Fire your tax related queries and i would get it solved!!!
HI,THERE ARE SO MANY PEOPLE HERE TRADING CAN ANY ONE PASTE EXCEL OF ITR 4 LAST YEAR THEY FILLED (OFCOURSE SOME NUMBERS CAN BE ADJUSTED AND REMOVING PERSONNEL DETAILS AND HOW THEY CONSIDERED tO AND CAPITAL LOSS.THAT WOULD PUT AN END TO DEBATE..i HOPE SOME ONE HAS FILLED LAST YEAR?
You looking for how to show Capital gains/loss transaction or Business Income (for speculative and F&O trades)? You can share personal email ID...can share the file over email not here..
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yes..seems everyone has confusion here regarding To but all are trading more than 5 years,and those filled ITR4 never botheres to help in traderji forum
Osho...I don't trade..I am just a Chartered Accountant...but then its absolutely fine that people don't share such files over public forums.
You can let me know what you exactly need, can share the same over email (but not in forum)
Sirji
I have a query that was forwarded by a friend of mine for a solution. (I have changed the figures to round off for easy calculation and better understanding)
My friend is working in a MNC, and was allotted 100 shares of that company (US based) under employees scheme (against payment) in August 2014. The shares were allotted at a rate of $ 85 per share while the market rate was $ 100. He sold the shares at $ 110 per share on 18.3.15. $ 50 was paid as brokerage to the broker (through whom the sale transactions was performed). The sale proceed (via a wire transfer) was deposited in the bank and bank deducted about Re 1.00 per dollar from the official exchange rate (say bank exchanged the proceed at Rs 60 per dollar while the official rate was Rs 61 per dollar)
Now the queries are
1. What is the purchase price.
2. What is the sale price
3. How to compute all this for taxation purpose.
4. Which ITR form to be filled in view of above (otherwise he is filling ITR 1 only)
5. Though this will be treated as STCG. But want to know if there is any LTCG or STCG type of treatment, like in Indian equity, for foreign shares sales also. If yes then what is the period (like 12 months for Indian equities) and rate of taxation (nil for LTCG for Indian equities).
Please reply above queries and anything more that you want to add.
Thanks
I have a query that was forwarded by a friend of mine for a solution. (I have changed the figures to round off for easy calculation and better understanding)
My friend is working in a MNC, and was allotted 100 shares of that company (US based) under employees scheme (against payment) in August 2014. The shares were allotted at a rate of $ 85 per share while the market rate was $ 100. He sold the shares at $ 110 per share on 18.3.15. $ 50 was paid as brokerage to the broker (through whom the sale transactions was performed). The sale proceed (via a wire transfer) was deposited in the bank and bank deducted about Re 1.00 per dollar from the official exchange rate (say bank exchanged the proceed at Rs 60 per dollar while the official rate was Rs 61 per dollar)
Now the queries are
1. What is the purchase price.
2. What is the sale price
3. How to compute all this for taxation purpose.
4. Which ITR form to be filled in view of above (otherwise he is filling ITR 1 only)
5. Though this will be treated as STCG. But want to know if there is any LTCG or STCG type of treatment, like in Indian equity, for foreign shares sales also. If yes then what is the period (like 12 months for Indian equities) and rate of taxation (nil for LTCG for Indian equities).
Please reply above queries and anything more that you want to add.
Thanks
Sirji
I have a query that was forwarded by a friend of mine for a solution. (I have changed the figures to round off for easy calculation and better understanding)
My friend is working in a MNC, and was allotted 100 shares of that company (US based) under employees scheme (against payment) in August 2014. The shares were allotted at a rate of $ 85 per share while the market rate was $ 100. He sold the shares at $ 110 per share on 18.3.15. $ 50 was paid as brokerage to the broker (through whom the sale transactions was performed). The sale proceed (via a wire transfer) was deposited in the bank and bank deducted about Re 1.00 per dollar from the official exchange rate (say bank exchanged the proceed at Rs 60 per dollar while the official rate was Rs 61 per dollar)
Now the queries are
1. What is the purchase price.
2. What is the sale price
3. How to compute all this for taxation purpose.
4. Which ITR form to be filled in view of above (otherwise he is filling ITR 1 only)
5. Though this will be treated as STCG. But want to know if there is any LTCG or STCG type of treatment, like in Indian equity, for foreign shares sales also. If yes then what is the period (like 12 months for Indian equities) and rate of taxation (nil for LTCG for Indian equities).
Please reply above queries and anything more that you want to add.
Thanks
I have a query that was forwarded by a friend of mine for a solution. (I have changed the figures to round off for easy calculation and better understanding)
My friend is working in a MNC, and was allotted 100 shares of that company (US based) under employees scheme (against payment) in August 2014. The shares were allotted at a rate of $ 85 per share while the market rate was $ 100. He sold the shares at $ 110 per share on 18.3.15. $ 50 was paid as brokerage to the broker (through whom the sale transactions was performed). The sale proceed (via a wire transfer) was deposited in the bank and bank deducted about Re 1.00 per dollar from the official exchange rate (say bank exchanged the proceed at Rs 60 per dollar while the official rate was Rs 61 per dollar)
Now the queries are
1. What is the purchase price.
2. What is the sale price
3. How to compute all this for taxation purpose.
4. Which ITR form to be filled in view of above (otherwise he is filling ITR 1 only)
5. Though this will be treated as STCG. But want to know if there is any LTCG or STCG type of treatment, like in Indian equity, for foreign shares sales also. If yes then what is the period (like 12 months for Indian equities) and rate of taxation (nil for LTCG for Indian equities).
Please reply above queries and anything more that you want to add.
Thanks
2. Sales Price: $110*100* (SBI TT Buying rate for the date of sale)
3. Remaining expenses to be charged to expenses incurred for the transfer of securities.
4. ITR-2 (if there is no business income)
5. treated as STCG (only shares listed in Indian stock exchanges are treated as LTCG if the holding period is more than 1 year. The gains will be fully taxable. No exemption.
My son who is working in an MNC was holding (as on 31.3.15) some shares offered (in Jan 15) under ESPP by that company.
I want to know
1. As these shares are listed abroad only, whether holding of such shares will be treated as foreign assets for him
2. Whether he has to declare such foreign asset in his ITR for asstt year 2015-16. If yes, then which value, acquisition value or market value as on 31.3.15
3. My son is filing his tax return in ITR 1. Is there a provision for declaring such assets in ITR 1.
OR
He has to file his return in some other ITR form.
Thanks
I want to know
1. As these shares are listed abroad only, whether holding of such shares will be treated as foreign assets for him
2. Whether he has to declare such foreign asset in his ITR for asstt year 2015-16. If yes, then which value, acquisition value or market value as on 31.3.15
3. My son is filing his tax return in ITR 1. Is there a provision for declaring such assets in ITR 1.
OR
He has to file his return in some other ITR form.
Thanks
My son who is working in an MNC was holding (as on 31.3.15) some shares offered (in Jan 15) under ESPP by that company.
I want to know
1. As these shares are listed abroad only, whether holding of such shares will be treated as foreign assets for him
2. Whether he has to declare such foreign asset in his ITR for asstt year 2015-16. If yes, then which value, acquisition value or market value as on 31.3.15
3. My son is filing his tax return in ITR 1. Is there a provision for declaring such assets in ITR 1.
OR
He has to file his return in some other ITR form.
Thanks
I want to know
1. As these shares are listed abroad only, whether holding of such shares will be treated as foreign assets for him
2. Whether he has to declare such foreign asset in his ITR for asstt year 2015-16. If yes, then which value, acquisition value or market value as on 31.3.15
3. My son is filing his tax return in ITR 1. Is there a provision for declaring such assets in ITR 1.
OR
He has to file his return in some other ITR form.
Thanks
2. Yes it should be declared
3. H needs to file ITR2
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