Hi,
I had a query on Capital gains, I would like to know if one has earned profits on share trading (short term capital gain) from borrowed money. what are the tax implications of that?
Vinni (AM) 14 January 2011
Hi,
I had a query on Capital gains, I would like to know if one has earned profits on share trading (short term capital gain) from borrowed money. what are the tax implications of that?
A V Vishal (Advocate) 15 January 2011
STCG on trading of shares are taxed at 15%.
Vinni (AM) 15 January 2011
what about interest earned on borrowed money,
and does one still pay tax as per income tax slab that you fall in?
A V Vishal (Advocate) 15 January 2011
You can claim the interest on the borrowed capital. You need to establish direct nexus that the amount borrowed was for the purpose of the investment.
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