Calculation in example of 1.2 lacks profit appears to be faulty. If profit over 1 lakh is to be taxed then only 20000 = (120000-100000) will be taxes @ 10% . This means only 2000 tax.
Re: Re: Taxing profit over 1 lakh
by Madam on Feb 02, 2018 10:48 AM
Read it again, but it didnt mean any different> If I make 120000Rs as profit, would I be taxed only on 20K or the total 120000 ?
Calculation in example of 1.2 lacks profit appears to be faulty. If profit over 1 lakh is to be taxed then only 20000 = (120000-100000) will be taxes @ 10% . This means only 2000 tax.
Absolutely shocking! I am a small investor in stocks and I used to be happy that I am getting some appreciation of the value over the longer period and didn't need to keep track of the gains. But with this draconian measure I am worried that I have to keep track of my investments to make sure they don't attract the new tax. What a hassle!
But what about those who were suffering from LT Capital Losses since 2008 on their investments , many shares reduced to almost penny.Like ICSA and many more. further a man takes risk when he invests in shares.
Re: tax on LTCG
by kavishwar mokal on Feb 01, 2018 08:38 PM
That still not been cleared, whether one can claim LTCL and can off-set it against the LTCG from any avenue.
But what about those who were suffering from LT Capital Losses since 2008 on their investments , many shares reduced to almost penny.Like ICSA and many more. further a man takes risk when he invests in shares.
Re: tax on LTCG
by aam admi on Feb 01, 2018 08:23 PM
Persons who are having no pension and invested their savings in shares will be penalised by imposing LTCG.
