ITR 3 Filing for Future & Option Losses with Excel computation
144.7 هزار بار بازدید -
3 سال پیش
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🔗Download computation sheet - https://bit.ly/3I8Yvcf
Many people are getting error of Audit and possible defect in case of Loss. Please note it is warning for possible defect and not ERROR. You should consult your Tax Professional to ascertain the liability of Audit as it may very case to case and need lots of information to reach on final conclusion. Also note if you are sure about Tax Audit then you may proceed to file the return. Watch this video for more information You have claimed income less than 8% ...
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📍In this session we have discuss ITR 3 Filing for Share Market Income with Intraday calculation #Sec111A #Sec112A #Intaday #Income
🗒Taxed under Capital Gains
If shares are not treated as stock in trade, then it shall be classified as Capital Assets and to be taxed under the head of “Capital Gains”. However please note intraday transactions shall always be consider as speculative business transactions**. “Capital Gains” means profits or gains arising from transfer of a capital asset
** Transaction for Risk management are not speculative transaction like hedging, forward & derivative contract. Capital Gain from equity share and equity oriented mutual fund have special rates of Income Tax u/s 111A and 112A and doesn’t not taxed at normal slab rates
🗒Taxed under Business Income
Under this type of trading, the share transaction is said to be complete only when there is actual delivery of shares/securities upon the settlement of transaction i.e., in other words, when shares are purchased/ sold on delivery basis, then those shares will be transferred to/from Demat account of the buyers/sellers. The buyer of the share will have to pay the full value of share and the share will become his asset with that either he can trade in his business or hold for investment. As per Section 43(5) of the Income Tax Act, 1961, intra-day trading shall be considered as speculation business transactions and the income therefrom would be either speculation gains or speculation losses. Income from speculation gains is taxed at the normal rates. Accounts of intraday transactions and other transactions are need to maintain separately. Expenses including STT shall be book as expense and normal PGBP provision shall be apply.
🔗Download computation sheet - https://bit.ly/3I8Yvcf
📍For consultancy please contact below
📩 [email protected]
📞9718097735
📍For query related to course please contact below
📩 [email protected]
📞8368741773
Cheers Folks
Thanks for Watching :)
Our Website - https://fintaxpro.in/
Our Official App - https://bit.ly/33lLehP
Our Social Handles- https://linktr.ee/fintaxpro
Disclaimer- Although all provisions, notifications, updates, and live demos are analyzed in-depth by our team before presenting to the public. We hereby provide our point of view only and tax matters are always subject to frequent changes hence advisory is only for the benefit of the general public. Hence neither Fintaxpro Advisory LLP nor its designated partner is liable for any consequence that arises on the basis of YouTube videos.
©️Fintaxpro Advisory LLP
🔗Download computation sheet - https://bit.ly/3I8Yvcf
Many people are getting error of Audit and possible defect in case of Loss. Please note it is warning for possible defect and not ERROR. You should consult your Tax Professional to ascertain the liability of Audit as it may very case to case and need lots of information to reach on final conclusion. Also note if you are sure about Tax Audit then you may proceed to file the return. Watch this video for more information You have claimed income less than 8% ...
Our Website - https://fintaxpro.in/
Our Official App - https://bit.ly/33lLehP
Our Social Handles- https://linktr.ee/fintaxpro
📍In this session we have discuss ITR 3 Filing for Share Market Income with Intraday calculation #Sec111A #Sec112A #Intaday #Income
🗒Taxed under Capital Gains
If shares are not treated as stock in trade, then it shall be classified as Capital Assets and to be taxed under the head of “Capital Gains”. However please note intraday transactions shall always be consider as speculative business transactions**. “Capital Gains” means profits or gains arising from transfer of a capital asset
** Transaction for Risk management are not speculative transaction like hedging, forward & derivative contract. Capital Gain from equity share and equity oriented mutual fund have special rates of Income Tax u/s 111A and 112A and doesn’t not taxed at normal slab rates
🗒Taxed under Business Income
Under this type of trading, the share transaction is said to be complete only when there is actual delivery of shares/securities upon the settlement of transaction i.e., in other words, when shares are purchased/ sold on delivery basis, then those shares will be transferred to/from Demat account of the buyers/sellers. The buyer of the share will have to pay the full value of share and the share will become his asset with that either he can trade in his business or hold for investment. As per Section 43(5) of the Income Tax Act, 1961, intra-day trading shall be considered as speculation business transactions and the income therefrom would be either speculation gains or speculation losses. Income from speculation gains is taxed at the normal rates. Accounts of intraday transactions and other transactions are need to maintain separately. Expenses including STT shall be book as expense and normal PGBP provision shall be apply.
🔗Download computation sheet - https://bit.ly/3I8Yvcf
📍For consultancy please contact below
📩 [email protected]
📞9718097735
📍For query related to course please contact below
📩 [email protected]
📞8368741773
Cheers Folks
Thanks for Watching :)
Our Website - https://fintaxpro.in/
Our Official App - https://bit.ly/33lLehP
Our Social Handles- https://linktr.ee/fintaxpro
Disclaimer- Although all provisions, notifications, updates, and live demos are analyzed in-depth by our team before presenting to the public. We hereby provide our point of view only and tax matters are always subject to frequent changes hence advisory is only for the benefit of the general public. Hence neither Fintaxpro Advisory LLP nor its designated partner is liable for any consequence that arises on the basis of YouTube videos.
©️Fintaxpro Advisory LLP
3 سال پیش
در تاریخ 1400/10/26 منتشر شده
است.
144,744
بـار بازدید شده