Comment on Taxation Simplified

Nithin Kamath commented on 07 Mar 2014, 05:28 PM

In case of Short term capital gains advance tax if you have booked profits then you have to pay advance tax, and if the gain is notional(your still holding the stock), there is no need of advance tax.
In case of Futures, since it is considered as a business, you will have to pay advance tax. Yeah it is kinda tricky, but even if you pay advance tax and assuming you end the year in a loss, you can get the refund of the advance tax paid already.

Cheers,

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