@BishyIPO there is a NET loss of 500 which is not taxable in the current year and this can be either set off wiith other LONG term CAPITAL GAIN/ SHORT TERM CAPITAL GAIN of the same year from other sources…feel free to revert in case you need any more clarification…
Hey @anuj I am a student.
I am a very active Intraday Trader.
I trade in mostly Equity & Futures.
I don’t have any source of income all I trade with the pocket money which I get from my father and Sometimes trade with the Profits with I have Earned from Intraday Trades.
Now, I have a question I will receive any notice from my state Income tax Department???
@Lets_Invest If you intended to do it as investment then there is no need until you reach 2.5L in a year in SHORT TERM INVESTMENTS , however if you go for TRADING and do many sale/purchase then do a total of all yur sale of such short term investment and he it crosses beyond 1 crore then AUDIT is required…further if you choose to declare 6% of yur total turnover (sale value) as taxable profit then this audit limit can go upto 2 crores…one thing to remember in case you do trading (i.e. as business) then you need to maintain books of account which is compulsory for those are having 1.5 L or more income or 10L turnover in a year…
I have purchased 10 shares in tcs for Rs 1718 in june 2017 and 10 more shares in sep 2020 for Rs 2484.Then I sold 5 shares in feb 2021 for Rs 2993 .How do you calculate my LTCG/STCG liability?