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Smitha
I have sold a stock listed in NASDAQ, USA. This is a restricted stock unit provided by the company and I have held the stocks for 2 years after vesting and I have a capital gain on a stock of 3.5lakhs. Could you please help me determine if it is short term or long term capital gain and what is the income tax rate applicable
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If you have held stock for 2 years it's a long term capital gain as it will be covered under unlisted securities also TDS would have been deducted on same in USA.
If you need further assistance feel free to contact me at canamanmaloo@gmail.com
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Pranav Aggarwal
Hi, I am a student currently persuing engineering. I wanted to earn something for myself so I started selling my classmates and to the adjacents class with notes, projects etc with the price of 2rs per page and I my self used to get that material printed at 50p per page. I also used to write projects myself for 10rs per page. I by this practice of mine have earned approx 1 lakh this year. And I want to file ITR in income tax for my above income. Which ITR I should file and how to show my above income in the said ITR. Please help me out.
Fill ITR 1 and show it as income from other sources. As per income tax act you are not liable to file income tax return.
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Aniket Varshney
I want to open a Private ltd company in which i have capital of 5lakh . And my mail course or business is Derivatives (only and only Option selling/Hedging) in stock market.
Do i have to registered with RBI for NBFC ?
Can i open company for this type of business as ecplained main source of income
Can i Acquire loan from bank for this type of business as per law
Can i Receive loan from Director and use that fund to share market Derivative trading business
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Aniket Varshney
I want to open a Private ltd company in which i have capital of 5lakh . And my mail course or business is Derivatives (only and only Option selling/Hedging) in stock market.
Do i have to registered with RBI for NBFC ?
Can i open company for this type of business as ecplained main source of income
Can i Acquire loan from bank for this type of business as per law
Can i Receive loan from Director and use that fund to share market Derivative trading business
Hi Aniket
-Trading in Stock market is a financial activity and u need to register for NBFC as Investment Co. with a minimum net owned funds of Rs. 2 crore
-Yes u can open dis type of co. and aexplained main source of Income
-Yes u can acquire loan from bank
-Loan from director is allowed to the extent of its own fund
Hope your queries r resolved.
U can mail at casanchit2019@gmail.com for further query.
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Ashima
Hi! I was a student until March 2019. Last year I studied in Italy for 4 months and worked part time. The income earned was less than 2.5L Rs NET. The taxes (30%) for this income were deducted in Italy by the employers. (The income was more than 2.5L Rs gross). Do I have to file for IT returns in India?
You have to first determine your residential status in India. Most probably you would be resident in India and in such case you have to file the ITR and declare the salary received from Italy in the return. You can avail benefit of DTAA between India and Italy. For help with filing the return contact on ca.sidbhardwaj@gmail.com
CA Naman Maloo 23 Aug 2019You would be a resident since you were in Italy for just 4 months and therefore your global income would be taxable in india but we need to check the DTAA between india and france.
If you need further assistance you can mail me at canamanmaloo@gmail.com
