Income Tax on Profit from Sale of Shares

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  1. maheshn77

    maheshn77 New Member

    I am salaried employee.. i have also made profit on shares from 1 april 2014.. to uptill so my question should i pay tax after march 2015 through challan 280 ..please help me..
     
  2. Neha Sharma

    Neha Sharma Active Member

  3. maheshn77

    maheshn77 New Member

    thank you for quick rely... but still i am confuse...
    now 15 sept is gone.. i have not paid 30%...
    shoild i directly pay 100% of tax before 15 march 2015 so that any profit/loss can be adjusted upto february 2015
     
  4. Neha Sharma

    Neha Sharma Active Member

    1% Interest per month would be levied for delay in payment.

    So either you can pay the tax as per the above mentioned schedule or pay the complete amount of tax right away.

    Dont wait for the year end as in that case you would be required to pay Interest on delayed payment for the full year whereas if you pay now - interest would be levied only for 2 months i.e. for the period of delay.
     
    maheshn77 likes this.
  5. maheshn77

    maheshn77 New Member

    Thank you for helping me ... can i able to pay myself through challan 280 or i need CA and if i choose to pay via challan 280 will this be advance tax or self assesed tax ? ...waiting for answer
     
  6. Neha Sharma

    Neha Sharma Active Member

    @maheshn77 : This would be advance tax.

    Payment of taxes online is a fairly simple process and you dont need a CA to do this. You can very easily do this yourself.
     
  7. maheshn77

    maheshn77 New Member

    thank you immensely....all my questions are answered thank you once again ..i will ask if any question arises further.. thank you
     
  8. kasthurirangan

    kasthurirangan New Member

    As per my salary income, I am paying 20% tax. But in this case if I pay 15% for the profit on shares, will it be any querry raised at the time of filing my return?
     
  9. gaurav_kumar

    gaurav_kumar Well-Known Member

    As per Income Tax Act, Tax on Short Term Capital Gains arising from sale of Shares is taxable @ 15%.

    Irrespective of which category of slab rates you are in, the income tax rate would be flat 15% only
     
  10. kasthurirangan

    kasthurirangan New Member

    thank you sir
     
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