I want to know whether I have to pay any short-term capital gain tax or not. Below is my scenario.
This is only my sold stocks ‘Booked P&L’ since April 2020
=== My Indian Stocks P&L: ====
Net realized P&L = minus -9.82k (Including tax and brokerage)
=== My US Stocks P&L: ====
Amount transferred from bank to brokerage account = $2200 (Rupees 170,778)
Exchange rate:- 1 USD = 77.xx Rupees + Rs 1000 charged by HDFC Bank
US Portfolio = $2423
Cash from trading = $39.37 (Current exchange rate is only $74 and the bank will only give $73. There will also be $10 for the bank transfer charge)
Dividends (after-tax detected by the U.S Gov) = $2.59
How the short-term capital gain tax is calculated in this scenario?
Also, up to how many dollars can I gain in the U.S stock market till being tax-free?