Income tax on share trading depends on whether you are showing it as “Capital gain” or “Business Income”. Capital gain: If you are trading in stock market as an investor (mostly involved in delivery based trading), the gains from trading can be classified as: Long term capital gain: – If equity… Continue reading
GST to Replace following 16 taxes levied by Centre (As per Lok Sabha debate.) 👉 Central Excise Duty. 👉 Duties of Excise ( Medicinal and Toilet Preparations). 👉 Additional Duties of Excise (Goods of Special Importance). 👉 Additional Duties of Excise (Textiles and Textile Products). 👉 Additional Duties of Customs… Continue reading
Dear Non Tax Filer/ Indian Assessee, If your total income earned between 1st April 2014 to 31st March 2015 is more than ₹2,50,000 you must file income tax return before today day end. 31st March, 2016 is the last date to file your FY 14-15 returns! If you miss this… Continue reading
Learn Indian Income Tax Implications for NRI’s ? How do I determine my residential status? Here’s how you can check your residential status for a financial year. You’re considered a ‘resident’ in a financial year if you satisfy one of the conditions below: You are in India for 182 days… Continue reading
NEW EXEMPTIONS IN SERVICE TAX Services by authorized persons / sub-brokers Vide Notification No. 03/2014-ST dated 03.02.2014, a retrospective exemption from service tax payable on the services provided by an authorized person or sub-broker to the member of a recognized association or a registered association has been granted, in relation… Continue reading