 Can the Tax credit people do this? |
| I've just got a letter saying I owe them £1,460.00 of overpaid tax credits even though i've always supplied the 9nfo they need and they paid it to me. They said they haven't recieved ... |
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 Do I need to report an income of $219 on taxes? |
I had a job for about 2 weeks earlier this year. I made $219 at that job alone. Do I need to report this income on taxes?
I live in California. My filing status was Single, 1. I did earn ... |
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 My neighbour has a widow's pension? |
| and no other income. She has now become ill and needs to claim sickness benefit until she recovers. She has a slipped disc and needs to be flat on her back for about 6 weeks. Will her widow's ... |
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 Can I collect unemployment from California if I'm moving out of state? |
| My husband and I recently purchased a property in Texas and therefore have decided to move there permanently. But neither one of us has a job out there. So is there any chance that either on of us ... |
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 Was to get my direct deposit on 1/25 from IRS,? |
| checked and was sent, bank hasn't posted, anyone else going through the same thing. How long does it take to post to the bank. I used the emerald card I had from last year which in effect is a ... |
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 How can I change my exemptions on my w4? |
| I just found out that my work hasnt been taking out ANY federal taxes of my paychecks and I owe $500! I have tried to send in a new form numerous times and it never changed! Please ... |
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 I deposited a check from a 401k that I was changing and they took out taxes. Will I get penalized? |
| I deposited a check from a 401k that I was changing and they took out taxes. Will I get penalized for receiving the check and then depositing it into another 401k account even though they already ... |
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 Council Tax? |
| As a mature student will I have to pay council tax? I'm renting with my partner who works full time and this september I start my Nursing Training as uni. But I've heard that as a student I ... |
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... So you would pay no tax on income whatsoever?
How many other states do this?
I have a hard time believing this, probably because I was raised in only very liberal, high-taxing states.... |
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 Why do I owe the bank? |
| I did Fast Tax refund with Jackson Hewitt about 3 or 4yrs ago...... They issued me a check with in 2days from a bank and my understanding was that the bank would receive my refund from the Irs....... ... |
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 Tax relief? |
My dad only receives Social Security benefits but has no other income. He hasn't filed taxes for years. Is he still eligible for the new tax rebate thingy?
Additional Details
If so,... |
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 I built a website for charity. Can I claim any deductions in my taxes? |
| I run a small business where I build and maintain websites for $1200-1500. A friend of mine who does Christian motivational and strength shows asked me to build a website for him. I decided to do ... |
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 Can i work and receive benefits? |
im in the uk,im currently receiving benefits....am i allowed to work a specified amount of hours per week without effecting my benefit?
thank you.
fred.... |
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 How many should I claim on my w2's? I still want a refund but they are taking out alot now? what is the best? |
| With my 19 year old and baby and my son, should I claim more on my w2's now so not so many taxes are taken out? Will I still get a refund next year? Would I get child credit for my daughter if ... |
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Ram P | Is income from selling shares is added to salary income? |
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Prasanth
|
This is Capital Gains tax where those shares held for less than 365 days are termed short-term while those beyond 365 days are long-term. When you sell a share with short-term holding, you are taxed at 15% of the profit and if long term, then it is 0 tax.
This is NOT part of your normal income in that there is no slab feature to this - the tax is flat.
Please note that the tax is calculated at 15% on the nett profit; i.e. if you made 2 transactions - one at profit of 2000 and another at a loss of 500, then tax is 15% of 1500 (2000 - 500).
Use the "Capital Gains" sheet at http://www.freewebs.com/rajanpras/itcalcfy2009.htm to get the calculation - this works in concurrance with your salary - entering 0 income and only shares will result in 0 tax (if total profit is less than 1.5 lakh) |
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meet
|
no.its income from other source .and its capital gains (long & short) . |
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Jss
|
No it will be capital gain or loss --- short term or long term.
In FY 2007-08, the tax on short term capital gains from the sales of shares where you paid security transaction tax is 10% while there is no tax on long term capital gains. In such cases if you hold shares for more than a year, you have capital gain.
Read about Capital gains, computation of capital gains and income tax rates on capital gains: http://mytaxes.in/index.php?topic=30.0.
For all the available Exemptions from Capital Gains under Sections 54, 54B, 54D, 54EC, 54F, 54G, 54GA, read: http://mytaxes.in/index.php?topic=31.0. |
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Chanakya K
 |
Income arising from sale of shares is charged under the head Capital Gains. Whether it is a Short term or Long term Capital Gains depends on the period of holding the shares. Any payments from employer to employee will be charged under the head Income from Salary |
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HMT
|
There are five heads of income:
1. Income from Salary
2. Income from Other Sources
3. Income from House Property
4. Profits from business or profession
5. Capital gains (short term or long term)
Total income is addition of all the 5 heads.
But capital gain attracts IT at special rates e.g. STCG from shares attract 15% tax while salary income attracts 10/20/30% as per slab. |
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tulsi gupta
|
no it should not be but it will be added to your total income under the head of capital gain.
Mr. Tulsi Gupta
91-9868119697
For Samarpan Consultancy Services |
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ashish k
 |
never ,it is treated as income from capital gains exempted if your sell your shares after one year of purchase |
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Balasubramanian
|
For taxation purposes, this also form part of your TOTAL income. Income from selling shares is classified as Capital Gains. These gains can be long term or short term. Long term gains will be on those shares which were held by you at least for one full year. Short term gains arise from shares held for less than one year.
Capital gains are either not taxed at all (if long term) or taxed at special rates (15%) if they are short term). Thus, you can make money on the stock market and pay less tax/no tax and enjoy the fruits of your investments.
Please also note that this special treatment is available only for shares sold through a regular stock exchange where a tax known as Securities Transaction Tax is paid. If this STT is not paid, then, the special treatment as indicated above is not available.
Then, that would be another story. Another question. Another answer.
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