Guidance Required On Tax

[Vrushank]

Dear Technofino members,

I have a question regarding taxes on shares and mutual funds.

If my friend buys shares and later sells them at a profit, how much tax will he need to pay on the gain? Also, can he claim a loss if he sells the shares at a loss?

For context, my friend is a NIL taxpayer.

I would appreciate your guidance on this matter.

 

[John Since]

Dear Technofino members,

I have a question regarding taxes on shares and mutual funds.

If my friend buys shares and later sells them at a profit, how much tax will he need to pay on the gain? Also, can he claim a loss if he sells the shares at a loss?

For context, my friend is a NIL taxpayer.

I would appreciate your guidance on this matter.

It depends on whether it's a long-term gain or short term capital gain.
If LTCG then 12.5% and STCG then 20%
Beyond Rs.300000/- he needs to pay taxes at the above rates for capital gains and no regular slab rates will be applicable.

 

[Vrushank]

It depends on whether it's a long-term gain or short term capital gain.
If LTCG then 12.5% and STCG then 20%
Beyond Rs.300000/- he needs to pay taxes at the above rates for capital gains and no regular slab rates will be applicable.

Thanks. Do you have any other suggestions ? Are there any additional suggestions you would like to add ????

 

[John Since]

Thanks. Do you have any other suggestions ? Are there any additional suggestions you would like to add ????

Suggestion for?

 

[Pradumya]

Also, can he claim a loss if he sells the shares at a loss?

Yes. There are provisions of carry forward losses upto 8 years

 

[Vrushank]

Yes. There are provisions of carry forward losses upto 8 years

Txxx a lot sir.. Txxx all