No Income tax for traders.. Lets fight

Hi Guys

Plz start discussion about this issue. Plz fight against this..

im taking first step.. Plz support me.

My self intraday trader and in huge loss. (no issues with my loss..)

My issue: Why traders specially Intraday traders need to pay income tax.

just see below example.

Almost 17 lakhs gave from trading to brokers and Government. for only govt approx 12lakhs in 3 years.

1. We are earning money and giving life to some employees of brokers.
2. We dont have any escape way in these taxes. So we sincerely paying above taxes to govt.
3. So we r generating good income to govt sincearly.. And we also earning. But again govt need income tax from us. They are not catching who escaping in illegal ways.

4. But we all are doing legally by mentioning pan card with bank officially.

Another ex:

Take 2014-2015 transactions:
( all figures roughly to understand my angry)

1. If i made 10lakhs profit means im in tax slab. again i need to pay incometax of 3 alkhs.

So i will get around 7 lakhs in my hand.

2. if i made loss of 10lakhs ... 10lakhs +6lakhs= 16 lakhs my total loss..
--> In this situation govt is going to help me?? Answer no..

In that type of situation why govt not returning my taxes which they got from trading???



Plz guys We will start a moment....: "No tax on loss trades. Take taxes and brokerages on only profit trades"


We are giving daily huge money to govt.. If we stop one month Its big slap for indian economy. Govt also need to support us. Nowadays lot of people choosing trading as career. Plz Lets start discussion and share ur views.

Plz guys.. oneday may be u will also face this situation. Come on open and raise ur voice.

"Taxes only on profitable trades."

Plz forward to all traders like us and share in FB whatsapp etc.. come on be united.....

:clap::clap:

:thumb::thumb:

Yours..
Sincere trader.

Bhai
there is no income tax, if one is in loss. Only audit problem
One has to pay IT only if one is in profit.

Sir... My worry about taxes and charges.. When he made loss why again we need to pay taxes.

And We already paying these much taxes.. again why we need to pay income tax on trading.

Bhai Mungerilal ke haseen sapne karke ek serial aaya karta thha...

Aaj youtube pe revise karke aaye ho kyaaa....

may be haseen sapney...:thumb::thumb:

But one day traders will understand.. Now im facing this problem.. May be another person like me...

Last 2 or 3 mnths back govt impose some rules on gold shops.... Rule like this.. need to take pancard on purchase above 5lakhs.

All gold shops closed for 15 days... Whats wrong in that rule...

But they know how much it will effect on their business...

What happend nxt?????

They united and they got their demands.. but what about traders??

If suppose govt impose new tax... xyz tax 15%.. then whats our situation?? No union to support...

Other peoples are thinking gambling and time pass game.. its our career.. and its our life.

Didn't saw yr full name. I wrote in Hindi what I meant that there was a serial on DD in 1980s in which the protagonist used to day dream as an escape from his miserable life.

Honestly speakig I don't see gov reducing any taxes in the coming future. There are a lot of frebees gov has to dish out towards orop pay commission etc. For that money is needed and hence gov. can't afford to loose easy money like stt, oil tax, alcohol tax etc.

Sent from my AO5510 using Tapatalk

I think your thread title should be changed "no taxes and leives" for loss trades..

Income tax has to paid by whoever making income...

its not about trading, in any business, peoples are paying tax on every transactions, Sales tax, service tax, ED, CVD, BVD etc etc etc. those expenses are part of their business , just like paying EB bills/salary to their employees..

but i dont know why are so particular about taxes and leives, its just 1 point in crude, 2 point in NF, 4 point in BNF..assume its default loss in every trade..

No chance of any mercy for FNO traders, even long term share holders won't get any benefits..Now share holding over one year is considered as long term,no tax for gains after selling it, But Government may raise this time frame, 2 or 3 years in coming budgets , it's another way to loot retail participants

@madhavareddy1203

you are confused with direct and indirect taxes.

The govt HAS to get most of its revenue from indirect taxes, because many so called indians don't want to or don't pay taxes. They are the real "desh drohies".

In india , only 1% of the population pays income taxes. In US/EU ,45-50% of pop pays income taxes.

Now , where do you think the govt will have to make up , obviously indirect taxes.

When indians start to pay income taxes properly and it comes to 50% , only then the FM will remove the STT and other non sense taxes. But we will never see that day...

Because indians don't like to pay income taxes, everyone will be burdened with these indirect taxes in trading and everything else.

It is also possible that one day our country will be on sale. I hope i m not alive to see that day.

Edit: Don't blame the govt , BLAME THE PEOPLE OF THIS COUNTRY.