if i will get 20% p.m. return in derivatives trading, m i liable ta pay tax?
2006-08-20 22:41:43 · 5 answers · asked by ketan p 1 in Business & Finance ➔ Taxes ➔ India
Yes you are liable to pay tax.The rate is short term profit at the rate of 20%.Do confirm it with your auditor
2006-08-20 22:49:55 · answer #1 · answered by king 4 · 0⤊ 1⤋
Tax on profit is there.
If you are earning profit, you have to pay tax, and under what slab you are covered depending on the Income you make in a financial year ( if as a company or as an Individual) and (if you have this as primary source of Income or Secondary) ?
2006-08-21 05:49:34 · answer #2 · answered by Mani G.India 4 · 0⤊ 0⤋
Yes. Only dividends on share and long-term capital gain on it is outside tax. If you are successful in derivatives trading, usually you will come in the 30% tax bracket
2006-08-21 05:57:08 · answer #3 · answered by V R 3 · 0⤊ 0⤋
Yes, you will be liable to pay tax, & % basically depends upon your total yearly income. various slabs are defined for the tax calculation & the taxes are 30%, 20% etc....
go to http://www.incometaxindia.gov.in/ for more detail...
2006-08-21 05:57:30 · answer #4 · answered by ♥ forever 2 · 0⤊ 0⤋
Tax is calculated on your income. The first slab of tax is 30% on your taxable income
2006-08-21 05:49:43 · answer #5 · answered by thinkpose 5 · 0⤊ 0⤋