My father had invested around 3 lakhs in the shares of a Private Limited Nursing Home in 1990. The present cost of the shares is around 30 lakhs. After the death of my father, the shares were transferred in the name of my mother. If the shares are now sold, will my mother have to pay any income tax on the profit? If yes, what are the possible ways to evade it?
A person residing in US invests stocks in India. He has no other income except from stocks. If he is getting profit from short term(less than 365 days) gains, long term(more than 365 days) gains and dividends, does he need pay capital gains tax? If he does not need to pay does he need to file tax returns.
I have heard that we have to pay tax if we sell a property before 3 yrs time from the profit,if we buy a new property then also we have to pay certain percentage of profit,plz tell if its true how much percent of profit we have to pay in both cases and before and after 3 yrs time???
I had booked a flat in the year 2007. After that construction started. The construction is now complete. I wish to sell the same to a buyer even before the flat being registered in my name, i.e. the sale deed will be between me, the builder, and the buyer, which will be executed in Feb 2012. I will earn some amount from this sale. How the income tax will be levied on this transaction. Whether it will be a capital gain, and if so, short term or long term?
My wife is housewife trading shares with an amount of Rs.50,000. She is getting profit from it around Rs.10000 every year since 2008 but she never filled income tax return form. And she has no other income.Should she fill ITR for this assessment year 2010-11?
I Want to know that is it compulsory to provide Income Tax in Profit & Loss Account for Partnership Firm.
I am an indian trading in NSE.
I have made some profits from the stock market. While doing the transaction, i have paid Securities Transaction Tax for all the transaction. Now:
1) do i need to pay tax on the profit which i get.
2) since i am a salaried person, can i pay all tax in a single tax return.
In India if i sell a residential property (land or building) and gain some profit. how i will be taxed. and what is the maximum rate of tax over the profit earned on sale of property in india
i am ready to take the risk. which policies of short term trading i should use gain money in relatively less time. not like 3 or 5 years as in mutual fund. but rather in months.
plz tell me i m a beginner.