Discuss How Tax is calculated on shares ? at the Taxation Matters within the Traderji.com - Discussion forum for Stocks Commodities & Forex; I am trying to understand how tax is calculated on stock trading/investing.
I will ...
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Taxation MattersTaxation issues for investors and traders.
I am trying to understand how tax is calculated on stock trading/investing.
I will appreciate if somebody who knows can answer .
Let's say I started trading from 1 Jan 2004 with Rs 5000.00 . For the sake of simplicity let's assume I dont have any other income (other than what is written below) from 2004 onwards.
1) Jan 2004 - Bought 50 shares of X at Rs 10.00 each.
2) Oct 2004 - Bought 50 shares of X at Rs 20. each.
3) March 2005 - Bought 100 shares of Y at Rs 20 each.
4) June 2005 - Sold 80 shares of X at Rs 25 each.
5) Oct 2005 - Sold 50 shares of Y at Rs 10 each.
6) Dec 2005 - Bought 20 shares of X at Rs 20 each.
7) Jan 2006 - Bought 20 shares of Y at Rs 1 each.
How much will be my tax liability at end of FY06.
I assume for FY05 income tax liability is nil as I had no income.
I am trying to understand how tax is calculated on stock trading/investing.
I will appreciate if somebody who knows can answer .
How much will be my tax liability at end of FY06.
I assume for FY05 income tax liability is nil as I had no income.
Try www.apnamoney.com they have a 15 day trial period where you can enter your transaction details and see the tax implications both short term and long term
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12th January 2006, 07:23 AM
How Tax is calculated on shares ?
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