Tax saving on short term gain in stock market

Last post 04-28-2011 1:51 AM by alapati17. 1 replies.
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  • 04-27-2011 2:24 AM

    • gydave
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    • Joined on 04-27-2011
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    Tax saving on short term gain in stock market

    I am having short term gain in stock market which becomes taxable. Is there any legal way to save this tax?
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    • Post Points: 20
  • 04-28-2011 1:51 AM In reply to

    Re: Tax saving on short term gain in stock market

    Good Day Gydave, Firstly, i would like to bring to your notice that your Tax liability will depend on the following -your tax slab. - your cumulative gains (or losses) for all trades done in this financial year. - whether you have brought forward any losses from previous financial years. After considering all the above, if still your tax liability exist there is no way that you can avoid tax on the short term capital gain. However, you can set off any loss you have incurred on any other stock in the given financial year and nullify your tax and other best way is to hold the shares for more than one year which makes it Long term gain which doest attract income tax Note: Tax on Short Term Capital Gain is 15 % on net gain (After deducting all cost)
    • Post Points: 5
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