Hi,
I wont call myself a full fledged trader since some of my holdings are for long term. But I do have a "trade only" list of scrips I do trading on. My question is -
How do I calculate my taxes? I have 30% scrips that I am holding for more than a year. I trade in the rest of them.
There is some ambiguity in the taxes clause. It says if you do not hold for more than 12 months then the income on the gains comes under Income Tax and not capital gain tax.
Please send suggestions on best practices to reduce taxes. How are you guys managing it?
Thanks in advance,
Mohan
I wont call myself a full fledged trader since some of my holdings are for long term. But I do have a "trade only" list of scrips I do trading on. My question is -
How do I calculate my taxes? I have 30% scrips that I am holding for more than a year. I trade in the rest of them.
There is some ambiguity in the taxes clause. It says if you do not hold for more than 12 months then the income on the gains comes under Income Tax and not capital gain tax.
Please send suggestions on best practices to reduce taxes. How are you guys managing it?
Thanks in advance,
Mohan