Fire your tax related queries and i would get it solved!!!

Hello Sir,

i had 100 shares of HDFC bank for last 3 years. after split it has become 400.
if i sell 400 shares now, will this be considered as short term gain or no tax since its a long term holding?

are these notices valid?

dear diosis,

return of FY 08-09 filed on 29/7/2009

notice received under section 143(2) dated 17/9/10 from old jurisdiction.

is it valid? as it is after 12 months of date.

this noticed was answered by an application for change of jurisdiction.

now at newer jurisdiction 2 notices 143(2) and 142(1) dated 18/7/2011 have been received.

do these notices are valid and I shall have to answer these?

dear diosis,

I am trading in Equity and F&O (in seperate a/c) since 2007. I am salaried. Filing Tax on the basis of Form 16 received by my employer every year & haven't shown any P/L in trading a/c so far in ITR.

Can I show all previous P/L from trading now? how? My objective to do this is to get short term income set off in case of loss in future. similarly for profit in future, if lost.

Can I file my P/L from trading ledger obtained from my brokers? Sholud I get that a/c wetted by any CA or auditor?

Thanks in advance.

hello diosys,

tax question. Say i live in india and trade the US markets what do you think will my taxes be; am i liable to pay taxes in india or in US?

now how about i trade through a properietary firm in US as a prop trader (a member of the firm); then what? will i be responsible for only indian taxes? only US taxes? both?

Also can you compare taxation in india in general vs in the US. I currently trade from the US but am planning to move to india.

thanks!
-chetan

lets say i trade and monthly buy+sell==30lakh or above and i earned money i lost money
and before 31st march i was in loss am i liable to pay tax . also how to know your taxable amount. this system is of tax calculation is automated by govt or not . by using pan card is it possible to know your tax for the financial year.

Dear Hari,

I could not locate a solution. I'll appreciate if you can share any solution(step by step guide) that you have found.

If I trade for a living is it better o launch a company or trade as an individual?

I trade for a living so is it better to launch a company showing it as a business or trade as a individual entity for tax point of view?

Stamp Duty

Hi, can u give me more details about Stamp Duty. Which states currently dont have Stamp Duty, also if i have to take advantage of that then do i have to register a company in that state....or if i open an account from a broker in that state and trade from a state where stamp duty is applicable then do i have to pay stamp duty...hope u have understood my doubts...looking for a response...thanks