My wife is house wife,she has invested in shares in 2020-2021 and earned profit around 7000 she don’t have any other earning,she has invested from her saving ,which she earned7 years before and tax paid for the earnings
Hey @Sathyajal, since there are capital gains involved, it is recommended that she files ITR 2 - Income from Capital Gains to disclose the income received from the trading activity.
1 Like
Sir I have sold some shares before 1 year.
I gained 4.5lakh but I did not with draw money from demat account. But I further bought some share. Do I need to pay tax ? I paid taxes . So what to do now?
Hey @bajramber85, yes, you should file ITR to disclose the income you have received from trading even if you have not withdrawn money from your demat.
Hi, kindly let me know how it consider frequent STCG in an year for taxing. STCG comes under 15% tax but if itax dept consider it under business, is there any more tax?. until 2.5 Lakh overcomes there will be no tax ?
Hi @rathishag007, you are correct STCG is taxed at 15%. Incase your total income is below the exemption limit, you won’t have any tax liability.
Here’s an article that will help you understand when to treat sale of shares as capital gains. 
How to i need to pay the STGC calculated ?
If your outstanding tax liability including STCG and other sources of income is above INR 10,000, you need to pay advance tax during the financial year.
The last date to pay the 4th installment of advance tax is 15th March.
You can use the advance tax calculator to know your tax advance tax liability
Below are the steps to Pay advance tax
I earned 15 lac as short term capital gain (STCG) on sale of share and repurchased same share after 2 days, my tax liability is 15lac * 15% i.e 2.25 lac. This is the only income I have in this year
I have no short term capital losses.
I have long term capital loss of 2.75 lac can i set it of from business income.
1.) How can I save tax on STCG?
2 ) Can i save tax by showing this as business income & deducting business such as office rent, deducting interest paid on loan taken from parents for investment, expenses on buying laptop or other expenses?
Hey @Anji
No, Long Term Capital Loss cannot be set-off against business income but only against LTCG.
(1) There is no way to save tax on STCG. (At least to my knowledge)
(2) Yes, you can classify yourself as a trader and show this as business income from which expenses can be deducted.
However, as per ITD stance once taken must be followed in the subsequent years.
As per this CBDT circular, an individual can decide on his own to either show his stock investments as capital gains or as a business income (trading) irrespective of the period of holding the listed shares and securities. Whatever is the stance once taken, the taxpayer will have to continue with the same in the subsequent years.
Hope this helps. 
1 Like
Thanks Vinith for replying, I just wanna know if I opt for showing it as business income can i setoff this short term capital gain via interest paid on loan taken from my parents, office expenses , laptop purchase, etc?
HI,
My gross salary is 1,80,000/- (Annually) and i have started investing this financial year. In this FY my short term capital gain is 6219/-. Will i am liable to pay tax of 15% on STCG or any option for exemption? Is there any tax slab for STCG like 100000/- for LTCG? If i am liable to pay the tax kindly guide me how can i pay myself.
Hey @Dillip_Reddy
Your tax liability will be nil, since your Gross Income < 2.5 lacs (basic exemption limit).
The un-utilised part (70,000) of your basic exemption limit will be used to set-off STCG.
Hope this helps.
1 Like
Yes, you can deduct all these expenses from your STCG, if you show it as business income.
(only depreciation on Laptop @ 40%)
Thanks Vinith for your information.
According to you i am not coming under taxable category due to my gross income ,but should i show the govt about my income and investment details or i don’t need to do anything because Govt already have my income and investment details?
I asked you this because i have started investment in stock market this year.
Hi Dilip
You must file your ITR and disclose all your incomes.
Cheers!
1 Like
Can you help me on this, because i don’t have any knowledge about filling ITR.
Hi @Dillip_Reddy, there are different types of ITR for different types of incomes.
| ITR Form | Description |
|---|---|
| ITR 1 | The most basic ITR form for individuals having income up to Rs. 50,00,000 from or income from salary/pension, one house property, and interest. |
| ITR 2 | For individuals/HUF having income from salary/pension, multiple house property, capital gains, interest, and partner’s income from the partnership firm. |
| ITR 3 | For individuals/HUF having income from salary/pension, multiple house property, capital gains, interest, and income from proprietary business or profession. |
| ITR 4 | For individuals/HUF/Partnership firms having income from presumptive business or profession, salary/pension, one house property, and interest up to Rs. 50,00,000. |
Following ITR Forms are prescribed for corporate assesses:
| ITR-5 | For firms, an association of persons (AOP), Body of Individuals (BOI), co-operative societies, and local authorities. |
|---|---|
| ITR-6 | For companies claim that do not claim an exemption under section 11 (such as a charitable or religious trust). |
| ITR-7 | For trusts, political parties, scientific research organizations, colleges, and universities. |
If you choose to file your return through Quicko, we will be able to automatically decide the ITR for you based on your income streams. You can read more about the which ITR form to fill here.
I have short-term capital gains for this financial year, but when I deduct the total DP charges for the year the net gain goes down significantly. So can I minus the DP charges and include only the net Short term gains while filing the ITR?
Hey @riya_gupta,
Short Term Capital Gain (STCG) is covered under the Capital Gain Income Head. Hence you can claim all the transfer expenses except STT (Securities Transaction Tax) while filing ITR.