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The trader then buys 100 shares of the same stock, and a week later sells 100 shares. That would still be a wash sale since it came within that 30-day window before the sale.
The government reduced this tax in the 2013 budget after protests for years by the brokers and the trading community. The revised STT for delivery-based equity trading is 0.1% on the turnover. For Futures, the tax has been reduced to 0.01% on the sell-side only.
Income tax return is the form in which assesses file information about his/her income and tax thereon to Income Tax Department. Various forms are ITR 1, ITR 2, ITR 3 , ITR 4, ITR 5, ITR 6 and ITR 7. When you file a belated return, you are not allowed to carry forward certain losses.
Normal return (§139(1)) – Individuals with an income above ₹ 250,000 (under age 60), ₹ 300,000 (age 60 years to 79 years), or ₹ 500,000 (over 80) must file a return. Due dates vary. Due dates vary.
Form 3CB is associated with certain processes associated with the filing of income tax returns in India. The rules and regulations of the Income Tax Act, 1961, and the Income Tax Rules, 1962, govern the process of filing tax returns with the Income Tax Department of India and Form 3CB is particularly governed by the provisions of Rule 6G(1)(b).
The IRS Direct File program, which lets you prepare and file your federal return for free, is expanding to 24 states for the 2025 tax season. Bankrate 6 days ago Capital gains tax on real estate ...
For example, U.S. tax law provides that trading in securities for the taxpayer's own account will not constitute a U.S. trade or business. [16] Thus foreign hedge funds formed as corporations do not generally pay corporate income tax. [17] Domestic tax-exempt entities face similar concerns when investing in funds structured as partnerships.
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