|Author: [Anonymous] 11 Aug 2013 Member Level: Gold Points : 5 (Rs 2) Voting Score: 0|
There is a tax called capital gains tax which is applicable in case of transfer of assets. Here the transfer word refers to giving up your right on an asset. to other. It includes any kind of sale, exchange, compulsory acquisition under any law, relinquishment etc.
There are two kinds of capital gains tax available, one is short term capital gain tax and the other is long term capital gains tax. In case of securities and shares, if you hold the shares for more than or equal to 12 months, then you need not pay any tax in this regard. In your case if you make a profit of 100 rupees in XYZ shares after selling it 12 months from the date of purchase, then you need not to pay tax on the gains, ie on 100 rupess. Because we already paid STT or securities transaction tax while doing any transaction of securities or shares.
But if you sell the holding shares within a period of 12 months from the date of purchase, then you will have to pay short term capital gains tax at the rate of 10% of the gain amount.
Hope you have got the idea and got the answer of your question.
|Author: Pravat Kumar Das 14 Aug 2013 Member Level: Gold Points : 3 (Rs 1) Voting Score: 0|
Turn over tax is charge by your broker on volume created on daily basis.
Suppose you bought of XYZ share at Rs 1,00,000 and sold at rs 1,00,100 then your broker will charge you turn over charges on total volume of buying+ selling = rs 2,00,100.
Their is no relation with your profit or loss.
You have to give turn over charges on ( buying+ selling ) volume.
Suppose you bought at Rs 1,00,000 and sole at rs 99,900 then you have to give turn over charges of Rs 1,99,900
Hope this will clear your query.