Income tax on capital gain thr' online trading?

Sorry for my igonrance. I'm doing online trading. Currently only buying. When I sell the shares, how much will be the tax on the profit I earn? Very importantly, how to pay those taxes?


Online trading is apart from my main source of income.
Income tax on capital gain thr' online trading?
When you sell the shares through recognised Exchanges - where STT is levied than 15% for shares bought %26amp; sold within 12 months - which is a short term capital tax. Transactions undertaken after holding the shares for 12months - no tax is payable on Long term capital gains.


You are required to file your annual tax returns and pay advance tax on quarterly basis if you feel that your short term capital tax is liable to be paid. You must be having a Pan no. which is a must. Tax Challans are available for payment of Taxes which are to be utilised when paying taxes.


Details of Challans are available on site Incometaxindia which pl corelate.
Reply:Mr. JSS has already answered you the main question.





Now, how to pay those taxes.





Most Scheduled Banks including State Bank, ICICI Bank, HDFC Bank and Axis Bank are authorised to accept income taxes on behalf of the Government of India.





If you have your online banking account with anyone of these 21 Banks, click on Online payment of taxes on the website of Income Tax Dept. which is www.incometaxindia.gov.in





You will be taken to a page where the Banks' names are listed. Click on the bank where you have online facility. You will be taken to the Bank's login screen. From there, you may pay the taxes as applicable after filling up your PAN, Assessment Year and details such as Advance Tax, Self Assessment Tax etc.





Please use Microsoft Internet Explorer for this purpose.





Once you pay the taxes, you are presented another screen showing the challan details. Print that challan and keep it for your records.
Reply:Tax on short term capital gains from the sales of shares where you paid security transaction tax is 15% (for AY 2009-10) while there is no tax on long term capital gains. If you hold shares for more than a year, you have long term capital gain.





Read about Capital gains, computation of capital gains and income tax rates on capital gains: http://mytaxes.in/index.php?topic=30.0.


For all the available Exemptions from Capital Gains under Sections 54, 54B, 54D, 54EC, 54F, 54G, 54GA, read: http://mytaxes.in/index.php?topic=31.0.
Reply:gud answer jss