Fire your tax related queries and i would get it solved!!!
Hi Diosys,
Hope you are doing great. Last time we interact in this thread was in december when you nicely sorted out one of my queries. Many thanks for what you are doing here selflessly....
Thing is I am running into losses in trading over last some months( not a big deal; everyone does; but will soon come into the profit).....Now the thing is, 33% tax is too much to pay for someone who has just started in trading, so as soon as I get some signs of profits, I would like to run my trading buiseness under name of small firm....So my first question is, under which type of company I should run my buiseness to get maximumum tax reliefs (is it pvt.ltd, SME or some other)........Also I live in rural area(Just outside navi mumbai).....So Could registering a small buiseness into a rural area provide me better tax reliefs?
Thanks.
Hope you are doing great. Last time we interact in this thread was in december when you nicely sorted out one of my queries. Many thanks for what you are doing here selflessly....
Thing is I am running into losses in trading over last some months( not a big deal; everyone does; but will soon come into the profit).....Now the thing is, 33% tax is too much to pay for someone who has just started in trading, so as soon as I get some signs of profits, I would like to run my trading buiseness under name of small firm....So my first question is, under which type of company I should run my buiseness to get maximumum tax reliefs (is it pvt.ltd, SME or some other)........Also I live in rural area(Just outside navi mumbai).....So Could registering a small buiseness into a rural area provide me better tax reliefs?
Thanks.
The lowest level of taxation is the current state of opeartions i.e. being an indvidual...
Secondly you can always run a prorietorship business in any name you wish (even Reliance Industries) without registering it....
My advice to you would be to continue as current unless you wish to bring in a third party to put in finances.
Secondly you can always run a prorietorship business in any name you wish (even Reliance Industries) without registering it....
My advice to you would be to continue as current unless you wish to bring in a third party to put in finances.
Proprietorship is single owner business. Like running a shop that you fully own.
Third party finance is where you work but for capital you get a third party viz you borrow money from bank or individuals and make profit on it and then give them a part. Unless you are planning to trade with someone elses' money or give people investment advice it is better to trade as an individual since it saves the trouble of all the unnecessary complications of running a firm and reduces the tax load.
Is that right diosys?
Third party finance is where you work but for capital you get a third party viz you borrow money from bank or individuals and make profit on it and then give them a part. Unless you are planning to trade with someone elses' money or give people investment advice it is better to trade as an individual since it saves the trouble of all the unnecessary complications of running a firm and reduces the tax load.
Is that right diosys?
Hi, I am new to trading and have recentely started intraday trading.
Now my question is please can some body give me the breakdown in percentage of all the taxes deduted from my trading
Buy & Sell Both:
Brokerage: Angel Broking ?
STT ?
Sevice Tax ?
Transaction Tax ?
Stamp Duty ?
SEBI ?
Seniors pls give me a clear picture for both buying & selling.
Thanks in Advance
Now my question is please can some body give me the breakdown in percentage of all the taxes deduted from my trading
Buy & Sell Both:
Brokerage: Angel Broking ?
STT ?
Sevice Tax ?
Transaction Tax ?
Stamp Duty ?
SEBI ?
Seniors pls give me a clear picture for both buying & selling.
Thanks in Advance
Brokerage - Depends on the negotations
STT
STT applicable for Equity Transactions
Delivery Transactions
Purchase: 0.125% of Turnover i.e. (Number of Shares * Price)
Sell: 0.125% of Turnover i.e. (Number of Shares * Price)
Intra-day Transactions
Purchase: NIL
Sell: 0.025% of Turnover i.e. (Number of Shares * Price)
STT applicable for Derivative Transactions
Future Transactions
Purchase: NIL
Sell: 0.017% of Turnover i.e. (Number of Lots * Lot Size * Price)
Option Transactions
Purchase: NIL at the time of purchase of option. However the purchaser has to pay 0.125% of the Settlement Price i.e. (Number of Lots * Lot Size * Strike Price), in case of option exercise
Sell: 0.017% of Premium
Service Tax - 10.30% on the brokerage charged.
Transaction tax - I suppose you mean Securities Transaction Tax (explained above)
Stamp Duty - Depends on state to stae where registered.
STT
STT applicable for Equity Transactions
Delivery Transactions
Purchase: 0.125% of Turnover i.e. (Number of Shares * Price)
Sell: 0.125% of Turnover i.e. (Number of Shares * Price)
Intra-day Transactions
Purchase: NIL
Sell: 0.025% of Turnover i.e. (Number of Shares * Price)
STT applicable for Derivative Transactions
Future Transactions
Purchase: NIL
Sell: 0.017% of Turnover i.e. (Number of Lots * Lot Size * Price)
Option Transactions
Purchase: NIL at the time of purchase of option. However the purchaser has to pay 0.125% of the Settlement Price i.e. (Number of Lots * Lot Size * Strike Price), in case of option exercise
Sell: 0.017% of Premium
Service Tax - 10.30% on the brokerage charged.
Transaction tax - I suppose you mean Securities Transaction Tax (explained above)
Stamp Duty - Depends on state to stae where registered.
Suppose i buy share of Company X at 100 rupees........basic price was say 94 but due to taxes and brokerage i pay it becomes 100......now suppose i sell for 103 rupee .......but due to taxes and brokerage the net money i receive is say 96 buk per share.......
So how is my stcg calculated?
a:: 96-94=2 (15% on it)?
or
b:: 103-100=3(15% on it)?
So how is my stcg calculated?
a:: 96-94=2 (15% on it)?
or
b:: 103-100=3(15% on it)?
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