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| Discuss Fire your tax related quieries and i would get it solved!!! at the Taxation Matters within the Traderji.com - Discussion forum for Stocks Commodities & Forex; Originally Posted by r_karthy Hi, While calculating capital gain, 1. can we deduct the brokerage ... |
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#211
18th March 2008, 04:51 PM
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Re: Fire your tax related quieries and i would get it solved!!!
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Yes, brokerage is allowed but STT is allowed only when you show your income under the head of Business Inocme and not capital gains... 
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#212
18th March 2008, 04:57 PM
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Re: Fire your tax related quieries and i would get it solved!!!
Diosys....
I have a query for u... Say if my loss till Apr-07 to march-08 in stock markets amounts 1 Lakh.... and say i recover the same 1 lakh in Apr'08.... So should we consider the profit of 1 lakh in apil-08 as capital gains for next fin year.... (For this purpose, assume i have no other income other 07-08 and 08-09) Thanks, Sats
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#213
19th March 2008, 10:32 AM
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Re: Fire your tax related quieries and i would get it solved!!!
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Company alloted 100 ESOPS, I exercised 100 after the vesting period of 1 year. Allotment price was Rs.50/- and on vesting date price was Rs.80/-. Company also gave bonus 1:2 before the vesting period so I now have 150 shares in my demat. Suppose I sell the shares within 1 year from the time it came in my demat, I have to pay STCG also. How is the FBT calculated and How is STCG calculated? Thanks and Regards,
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#214
19th March 2008, 01:15 PM
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Re: Fire your tax related quieries and i would get it solved!!!
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#215
19th March 2008, 01:27 PM
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Re: Fire your tax related quieries and i would get it solved!!!
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you would be required to pay STCG on the profit that you generate...in the above example...100*(sale price-50)
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#216
19th March 2008, 01:42 PM
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Re: Fire your tax related quieries and i would get it solved!!!
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Sats
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#217
19th March 2008, 07:53 PM
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Re: Fire your tax related quieries and i would get it solved!!!
Hi, I am new to this forum and my annual salary is 2,45,000. So from past 4 months my tax is being deducted as 4,800, 3,200, 4,200 like that. What should I do to save this. I am a newbie in this field, So no experience about this at all. I am so much worried. So can u let me know how should I save tax and how much will it get deducted and how to save it?
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#218
20th March 2008, 10:30 AM
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Re: Fire your tax related quieries and i would get it solved!!!
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this is the reply i had given earlier as to how to breakup your salary to save tax... Dear Typist.... The best possible breakup i can give you is as follows....This is for FY 2007-08 Basic - 9250*12 = 1,11,000 Transport Allowance - 20,000 = 20,000 (Wholly Exempt) Reimbursement of Medical Bills - 15,000 = 15,000 (Wholly Exempt) Uniform Allowance - 5,000 = 5,000 (Wholly Exempt) Leave Travel Concession - 29,000 = 29,000 (Wholly Exempt) TOTAL SALARY = 1,80,000 (As Desired) TAX PAYABLE NIL Points to remember - YOU WOULD BE REQUIRED TO SUBMIT ACTUAL BILLS OF MEDICAL, PETROL, UNIFORM PURCHASED AND TRAVEL DONE.... Since for FY 2008-09 the tax structure is very less hence i presume with the same level of income there would be no tax deducted out of your salary provided you avail the maximum of 80C exemption...
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#219
20th March 2008, 12:16 PM
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Re: Fire your tax related quieries and i would get it solved!!!
Dear Diosys,
Are you qualified to give advice or just a student or a person with tax knowledge? If you are qualified, why dont you try talking to traderji to start a serious PAID section where you charge an annual fee/monthly fee or per query fee through traderji? Traderji will take a part of it as administration/bandwidth etc charges. It would be a win-win propsal for both of you and for all the members here who needs proper tax advice. You can even start it with others like acatrader. Best Regards, BAV
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#220
20th March 2008, 02:56 PM
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Re: Fire your tax related quieries and i would get it solved!!!
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What i am, i cannot divulge because i am bound by certain restrictions in my profession...though i would like to tell you that i am qualified and not a student.... As far as charging fees is concerned.....it for traderji to make an offer and then i would think about the same...otherwise i am very happy giving free advice.... There is one saying for a professional... A professional does not have "profit" he has only surplus left... Dear, this above line has a very deep meaning,if understood..... See ya... Last edited by diosys; 20th March 2008 at 06:09 PM.
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