Share your Tax issues.

[tradermodified]

How the following incomes are treated in new tax regime

1. Income from House Property
2. LTCG and STCG
3. Income from other sources as FD/SB interest income.
4. Gift etc from friends and close relatives

Whether the exemptions/deductions that are available in old regime are available in new tax regime as well OR there are changes in new tax regime.

Thanks

 

[Antho]

Hi All,

I am opening this new thread for any tax related questions that you have - from derivative trading to crypto taxation.

Happy to help you to the extent possible.

Regards

CA Nikhil

As a forex trader, I reside in a country where profits from forex trading are subject to capital gains taxes. Last year, I had a successful run, earning a profit of $50,000 from my trades. However, when tax season came around, I was surprised to learn that I owed a significant amount in taxes on my trading profits.
The unexpected tax liability not only reduced my profits but also put a strain on my trading capital. It was difficult to continue trading at the same level, as I needed to allocate a portion of my earnings towards paying off my taxes. This was a frustrating experience, as I had not anticipated the impact of taxes on my trading profits.