Self assessment Tax

Income Tax Income from Capital Gains
2

Hey @Gitesh

  1. Your salary taxes are already deducted via TDS. But since you’ve earned capital gains and didn’t pay advance tax, you might be liable for interest under Sections 234B & 234C of the Income Tax Act.
    So yes, if you pay the taxes on your capital gains in April, you will be able to save the interest charged u/s 234B compared to waiting till ITR filing in July.

  2. If your total turnover from trading is more than ₹10 crore then audit is mandatory.

  3. Option trading losses can be set off against both short-term and long-term capital gains.

Hope this helps!

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