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Fire your tax related quieries and i would get it solved!!!

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  #361  
Old 29th July 2008, 06:05 PM
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Default Re: Fire your tax related quieries and i would get it solved!!!

Quote:
Originally Posted by RAJASHREE View Post
Can i treat the F&O loss as short term capital loss and file itr 2 as i'am not going to trade in shares or F&O in future
Nope you cannot....F&O has to be treated as business income...
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  #362  
Old 29th July 2008, 10:07 PM
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Default Re: Fire your tax related quieries and i would get it solved!!!

hi,

can short gains be treated as business income if total income is less than taxable limt.

rajeev
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  #363  
Old 30th July 2008, 09:04 AM
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Default Re: Fire your tax related quieries and i would get it solved!!!

Quote:
Originally Posted by rkgoyal_98 View Post
hi,

can short gains be treated as business income if total income is less than taxable limt.

rajeev
What effect would that have....if your capital gain is less than basic exemption limit then also there would be no tax on it....
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  #364  
Old 31st July 2008, 09:02 PM
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Smile Re: Fire your tax related quieries and i would get it solved!!!

hi,
i have a question.Recently i made a payment for my credit card and i was actually taxed for making the payment,here is the transaction details:
--------------------------------
21/07/2008 CREDIT CARD PAYMENT 4500.00 Cr
21/07/2008 EDU CESS - SERV CHG 0.18 Dr
21/07/2008 SERVICE TAX - SERV CHG 6.00 Dr
21/07/2008 BR CASH DEP- PROC FEE 50.00 Dr
--------------------------------
My question is does the government requires banks to tax payments or is this some kind of scam.
Sincerely hoping for a reply,thank you.
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  #365  
Old 1st August 2008, 12:34 AM
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Default Re: Fire your tax related quieries and i would get it solved!!!

Hi,

I am a salaried person;also I do intraday trading.I have some shares in my Demat and some i sold in intraday without delivery on which i earned profit.
While filing incometax which form sould I use?
Also how to treat the intraday profit/loss and profit loss from selling the shares delivered.
Please guide
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  #366  
Old 1st August 2008, 09:21 AM
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Default Re: Fire your tax related quieries and i would get it solved!!!

Quote:
Originally Posted by qa_y2k View Post
hi,
i have a question.Recently i made a payment for my credit card and i was actually taxed for making the payment,here is the transaction details:
--------------------------------
21/07/2008 CREDIT CARD PAYMENT 4500.00 Cr
21/07/2008 EDU CESS - SERV CHG 0.18 Dr
21/07/2008 SERVICE TAX - SERV CHG 6.00 Dr
21/07/2008 BR CASH DEP- PROC FEE 50.00 Dr
--------------------------------
My question is does the government requires banks to tax payments or is this some kind of scam.
Sincerely hoping for a reply,thank you.
Did you deposit cash for your credit card payment ???? Is it ICICI credit card ??? Actually it is correct if both my questions are in affirmative...
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  #367  
Old 1st August 2008, 09:23 AM
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Default Re: Fire your tax related quieries and i would get it solved!!!

Quote:
Originally Posted by vinay8483 View Post
Hi,

I am a salaried person;also I do intraday trading.I have some shares in my Demat and some i sold in intraday without delivery on which i earned profit.
While filing incometax which form sould I use?
Also how to treat the intraday profit/loss and profit loss from selling the shares delivered.
Please guide
Please use ITR-4...

Secondly intra day trading is business income and loss and not capital gains....
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vinay8483 (1st August 2008)
  #368  
Old 1st August 2008, 08:43 PM
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Default Re: Fire your tax related quieries and i would get it solved!!!

Thanks for the reply..

BUt if i have mixture of both short term and intraday income then how to calculate tax.please give an example to emphasize.thanks in advance
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  #369  
Old 1st August 2008, 09:34 PM
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Default Re: Fire your tax related quieries and i would get it solved!!!

hi

ITR4 appears very complex and for business people.
I get regular monthly salary and do intrday share trading.I used to submit ITR-2 form but now because of share income cant I use same ITR2.
Or can i use ITR2 for salary and ITR4 for hsare,please illutsrate
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  #370  
Old 2nd August 2008, 09:28 AM
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Default Re: Fire your tax related quieries and i would get it solved!!!

Quote:
Originally Posted by vinay8483 View Post
hi

ITR4 appears very complex and for business people.
I get regular monthly salary and do intrday share trading.I used to submit ITR-2 form but now because of share income cant I use same ITR2.
Or can i use ITR2 for salary and ITR4 for hsare,please illutsrate
Since you have both capital gain income (short term) and business income (intraday) alongwith Salary hence ITR 4 would be required....

ITR 2 would not suffice....

If you are unable to calculate then hire a professional in your area....it would not be possible for me to guide you step by step on this forum...
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