Comment on Classifying Your Market Activity

Jinal commented on 09 Apr 2018, 01:14 PM

1. For STCG, we can deduct brokerage charges, statutory charges, commission charges, etf fees, GST, etc. under expenses right? But cant include STT, right?

2. My father transferred the shares from his demat to mine which he had bought more than 10 years back as a gift. Now if I sell these what are the tax implications in this case? Since he bought them long back I dont know if he paid STT or not, how do i check that- he doesn’t have the contract notes or other docs and also has closed his demat a/c too.

3. Currently, my source of income is only via STCG, LTCG, interest on savings/deposits. So I have to show STCG under business income and LTCG under capital gains right? If in future or next year I find anther source of income then i can shift the STCG under capital gains head right?

Thank you

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