Tax ... Tax ....tax

#11
I have noticed when we BUY/SELL equity shares , we pay STT , service tax , transaction tax etc during trade transaction.

Do we again have to pay tax to Govt from our profit ? If so Is there any quality service which helps their customer to calculate and filing Tax from equity profits ?

I think Brokers dont do the Tax calculation and filling...right ? Is there any reputed service for this ?

Could you please share your experience ?

Thanks
STT, Service Tax, Transaction Tax, GST, Turnover Charges etc are all the taxes and charges that a traders pays to execute the trading transaction. These charges are recovered by the broker from the trader. It is an indirect tax paid on the trading transaction. The trader can claim such charges as business expenses in the Income Tax Return.

The profit that you earn from trading such as profit on the sale of equity shares, profit from F&O or Intraday transactions should be reported in the Income Tax Return. You must also pay tax on the profits as per the applicable tax rates.

I had used Quicko to file my Income Tax Return last year. It was simple, quick and user friendly especially for a taxpayer like me.
 

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