I need to pay tax on short-term capital gains (around Rs. 3000) for FY 2017-18. What is due date (31st March)? Is there any interest for late payment, how much? If possible please quote the relevant Section of Income Tax Act; because I have searched on IT website could not find...
Long term capital gains, profits made on sale after 1 year from date of purchase, on equity shares (like in equity mutual funds) are exempt from tax. There will be no TDS applicable. Short term capital gains, profits on sale within one year of date of purchase, are subject to a TDS ...
Income tax laws require all income to be reported, whether exempt or not. Many types of incomes are exempt from tax. For example, long-term gains, dividends, etc. Although you do not have to pay any taxes on them, you still need to report them. ...
Income from long term capital gains is reduced as per the price index of the years and taxed at a different rate then the usual rate on salary income as per the slab. Rent income from house is reduced by allowable 30% for maintenance. Short term capital gain is taxed at a different ...
Electronic Verification of ITR; Form ITR V After filing the return, the time limit of 30 days is assigned to deliver the self-attested copy of ITRV to the CPC department. The ITR will not be processed by CPC until ITR V is submitted to the CPC department. E-verification is possible ...
Transfer of share of PQR Ltd., within a period of 3 years from the date of investment -the exemption given under Section 115F will be revoked. It means Long Term Capital Gain exempted in FY 2019-2020 of Rs.20.00 Lakhs along with Short Term Capital Gain on transfer of shares of PQR Lt...
Income from capital gains : Any profit or gain arising from transfer of capital asset held as investments(such as house,Jewellery, are chargeable to tax under the head capital gains. The gain can be on account or short- and long-term gains. Our articleBasics of Capital Gaintalks about in ...
Investing in assets like equities, shares or mutual funds had taxable gains in 2020-2021. Keep reading the post on income tax on share trading to know more.
Overview on bonds under Section 54EC & Taxation aspects Section 54EC bonds, commonly known as capital gain bonds, are an effective way for investors to save on long-term capital gains (LTCG) tax. If you sell a capital asset like real estate, shares, or other qualifying assets and make a...
I have a exempted income from Rural agricultural land compulsory acquisition by government, TDS has been deducted by Govt. Now I want to fill a refund as this is a tax free income, Can you guide me which ITR form I should use and in which Tab/Column I can show this amount. ...