Stock market tax

[Vardan]

Hey I'm 18(19 in May)yrs old my dad is a government employee he wants me to do stocks n opinion buying.
Before everything i wanna kn about tax (as my dad is an gov employee) n Also any legal method to save taxs (in my case) also in crypto?
Tq

 

[luciferocious]

there is no method to save tax for crypto gains. FYI

read about short and long term capital gains tax to understand about share market gains

 

[zacobite]

Hey I'm 18(19 in May)yrs old my dad is a government employee he wants me to do stocks n opinion buying.
Before everything i wanna kn about tax (as my dad is an gov employee) n Also any legal method to save taxs (in my case) also in crypto?
Tq

crypto is flat tax.. no option to save... cant even adjust losses

 

[Pijush_Pulse]

Hey I'm 18(19 in May)yrs old my dad is a government employee he wants me to do stocks n opinion buying.
Before everything i wanna kn about tax (as my dad is an gov employee) n Also any legal method to save taxs (in my case) also in crypto?
Tq

hello Vardhan
In india Crypto Trading income you must have pay tax no option
, but bro in Equity Market there is an option in LTCG upto 01 lakh zero tax then 10%
in other hand STCG is 15% you have to pay.

 

[Nandita]

Hey I'm 18(19 in May)yrs old my dad is a government employee he wants me to do stocks n opinion buying.
Before everything i wanna kn about tax (as my dad is an gov employee) n Also any legal method to save taxs (in my case) also in crypto?
Tq

hello @Vardan

if you are investing in stocks then you have to pay taxes compulsorily if your income exceeds the basic exemption limit irrespective of the fact that whether your father is a govt employee.

-If your income from short-term Capital gain exceeds say 3,00,000 after all expenses then you will be taxed Flat @15% on 3,00,000
-If your income from Long-term Capital gain exceeds say 3,00,000 after all expenses then you will be taxed Flat @10% on 2,00,000 (1,00,000)
-Crypto trading are taxed at 30% flat. No transaction cost deduction is given as TDS is already deducted by the platform and appears in 26AS as soon as you enter into Crytpo trading @30% under 194S.

Suggestion:
you can go for New tax regime scheme.

 

[prometheus]

Kindly note that indexation benefit has been withdrawn in case of debt funds but rest are almost the same. Hope this infographic helps since it's quite self explanatory. @Vardan

 

[Vardan]

hello Vardhan
In india Crypto Trading income you must have pay tax no option
, but bro in Equity Market there is an option in LTCG upto 01 lakh zero tax then 10%
in other hand STCG is 15% you have to pay.

tq sir
sir can u share any blog or video of how to apply ?

 

[Vardan]

hello @Vardan

if you are investing in stocks then you have to pay taxes compulsorily if your income exceeds the basic exemption limit irrespective of the fact that whether your father is a govt employee.

-If your income from short-term Capital gain exceeds say 3,00,000 after all expenses then you will be taxed Flat @15% on 3,00,000
-If your income from Long-term Capital gain exceeds say 3,00,000 after all expenses then you will be taxed Flat @10% on 2,00,000 (1,00,000)
-Crypto trading are taxed at 30% flat. No transaction cost deduction is given as TDS is already deducted by the platform and appears in 26AS as soon as you enter into Crytpo trading @30% under 194S.

Suggestion:
you can go for New tax regime scheme.

tq sir

 

[Vardan]

View attachment 725

Kindly note that indexation benefit has been withdrawn in case of debt funds but rest are almost the same. Hope this infographic helps since it's quite self explanatory. @Vardan

tq sir