Under the Smallcase concept, since rebalancing happens weekly or monthly, stocks in your basket are bought and sold in a short term period (i.e. within one year). Therefore, you pay 15% tax under section 111A on the net gain made during the year. Read on to understand more with a practical situation. For Example: You […]
Prior to the amendment, an individual, being a person of Indian origin and who came on a visit to India during the previous year was considered as a resident in India only if his period of stay during the relevant previous year was 182 days or more (second basic condition was not required to be […]
Taxation of derivatives and shares in India – Trading in future & options, intraday and stock held for short term and long term by an individual As per the Indian income tax regulations, purchase of shares made with the objective of earning profit is considered as a business activity, whereas purchase of shares made with […]
Article explains about Belated & revised returns for FY 2018-19 (AY 2019-20), Tax saving measures for FY 2019-20 (AY 2020-21), Investments for Capital gains exemption, Payment of Advance tax and TDS for the FY 2019-20, Filing of TDS returns and statements and other issues amid COVID-19. Belated & revised returns for FY 2018-19 (AY 2019-20): […]