How to pay online the short term capital gains tax ? What form to be filled?

Question

I want to pay short term capital gains tax on account of gains in shares purchased / sold Please guide me, sir. Whether Securities Transaction Tax and Short Term Capital Gains Tax is one and the same?

Answer 1

Visit:

http://www.tin-nsdl.com/



e-payment : pay taxes online

Select the challan ITNS 280 for Self Assessment Tax



Securities Transaction Tax and Short Term Capital Gains Tax are not one and the same.



I am not aware of the Rs 10,000/- limit as mentioned in earlier ans, but of Rs 5000/-



HMT

Answer 2

If your total income, including this short term capital gains would exceed Rs. 1,60,000 during the financial year 2009-2010, and if the 15% tax on short term gains alone exceeds Rs. 10,000, only then you are required to pay advance tax.



2. The advance tax will be 30% of the tax payable on the short term capital gains (subject to the condition that the tax payable as on date exceeds Rs. 10,000).



3. If you are a salary earner, tax on your salaries is already being deducted by your employer.



4. Securities Transaction Tax is what you pay through the broker on share purchase and share sales transactions done by you. This is not the same as Capital Gains tax and is entirely different. It is payable on value of the purchase and sale transactions irrespective of whether you make a profit or loss on such transactions. Capital Gains tax is payable only if you make a net profit on all short term sale transactions done during a financial year.



Is it clear?

Answer 3

you can very well subit the tax now.for 2007-08 return file date has not been announced yet. generally it is in july , at that time they will also annouce the final tax submission date. after than there is a fin. T deposite the tax, easiest way is thru net banking of IDBI/UTI. and if you do not have account in that, you can personally visit.

Answer 4

which challon use for capital gain