Comment on Zerodha - your tax aide while you trade

Nithin Kamath commented on 05 Sep 2015, 11:14 AM

1. IT department has been sending notices from year 2012-13 right now. So everything before that you are okay I guess. But if there is no tax liability as in your case, even if you have not filed it is okay. You can meet the IT department if any notice is received and show them that u didn’t evade any taxes. If there is no tax liability, no need of an audit.
2. No the carried forward STCL can’t be set off against F&O/business profit. Yes, if you hold the bonus shares for a year, the gain is exempt under LTCG.
Check this: http://zerodha.com/varsity/module/markets-and-taxation/

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