Comment on Taxation Simplified

Nithin Kamath commented on 24 Mar 2014, 01:03 PM

Ganesh,

Your STCG will come under the capital gains head on ITR4, so you will have to pay taxes of 15% of this 12 lks in addition to 2.4lks. Since you had earlier not mentioned the value of STCG. Another thing what you can do if you are a very active trader is show all your trading activity as a business (both equity and F&O), but if you do so, you will have to stick to the same principle in the future as well. In such a case, you can show your STCG & LTCG as business profits, and reduce your F&O losses, and pay taxes accordingly. Do consult a CA for this.

Cheers,

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