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Taxation in India? |
I buy two shares. one for Rs. 10 and sell for Rs.12 making a profit of Rs 2. The other one I buy for Rs. 10 and sell at Rs.9 making a loss of rs 1. i have a net profit of rs 1. If i am a salaried person will i be taxed on net profit of rs 1 or on a profit of rs 2. Hey profit and loss and tax manipulations are not simple here. Ti will depend on the kind of loss, it may or may not be set off. For eample ifI make a loss of 100 Rs in short term and profit of Rs 200 in long term it cannot be set off. In case of trading a loss the total profit amoutn is taxable and not the profit you make ask me romesh_model@yahoo.com for details. Profit For Rs 1 or Rs 2, Taxation is not applicable Yes you will be taxed for 1 re the net profit, the % of tax depends on when u sell, if u sell before 1 year (Short term capital gains) of holding then u add that profit to you income for the year and pay tax accordingly, if u sell after 1 year u pay flat rate of 10% (Long term capital gains) |
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