5 Heads of Income Tax

By | July 8th, 2017|Categories: Advanced Concepts, Capital Gain, House Property, ITR Filing, Other Sources, Salary|

Introduction  As per the Section 14 Income Tax Act,1961, there are five main income tax heads for an individual. The computation of income tax is an important part and has to be calculated according to the income of a person. For a hassle-free calculation, the income has to be classified properly so that there is no confusion regarding [...]

Income Tax on Capital Gain

By | July 7th, 2017|Categories: Capital Gain, ITR Filing|

Introduction Capital gains refer to any profit or gain that arises from the sale of a capital asset. This gain or profit is charged to tax in the year in which the transfer of the capital asset takes place. When there is a transfer (sale, exchange, relinquishment, extinguishment, compulsory acquisition, conversion, maturity, redemption, etc) of a [...]

Equity Share Trading Taxability

By | July 7th, 2017|Categories: Capital Gain, ITR Filing|

Introduction There is a difference between a trader and an investor. People do get confused between these two terms and the tax on share trading. The first thing to decide is whether you are a trader or an investor? To give a clear idea, refer the difference below: A trader’s income (profit or loss) from equity [...]

Save Capital Gains Tax

By | July 1st, 2017|Categories: Capital Gain, Save Income Tax|

Introduction CGT (Capital Gain Tax) is a tax imposed on capital gains or the profit on the sale of an asset. The most common capital gains are realized from the sale of stocks, bonds, precious metals and property and there are various methods to save capital gains tax. The point of owning assets is to get monetary benefits through them, which could either [...]

Tax on Stock, Futures and Options Trade

By | June 23rd, 2017|Categories: Capital Gain|

Introduction A derivative is a security with a price that is derived from one or more assets. The derivative itself is a contract between two or more parties based upon the asset(s) and value is determined by fluctuations in the asset. The most common underlying assets include stocks, bonds, commodities, currencies, interest rates and market indexes. There is also [...]