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I made a profit of Rs 95000 in equity trading, my other source of income is from a house property, Calcul Tax? |
I made a profit of Rs 95000 in equity trading, my other source of income is from a house property, if both the income exceeds the taxable limit of Rs 100000, how should I calculate my tax liability ? If u are paying security transction tax u/s 111A and it is short term capital gain then u have to pay 10% on such profit and on balance of income is not taxable because it is the below limit of 100000. up to 100000 income there is no tax payable. without telling the house property income , proper computation of your tax liability is not possible. Secondly also decide whether you did trading of shares or it may fall under investment categories for tax on trading shares is 30 % whereas on short term capital gain its 10%, on long term Nil. So , if you want computation, give at least some more information as asked for. Other wise , just deduct your income by Rs 1lac and apply the tax rates of individuals . |
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