MB » Personal Finance » Other Personal Finance Issues
INCOME FROM SHORT TERM GAIN & STT
< 25-Jul-08 4:48 pm >
Sir,
I am a
Government
employee and
have got net
salary of
Rs.1,45,000
p.a. in
2007-08. My
profits short
term gain are
Rs.38000 and
interest from
savings are
1200 for the
whole year. I
have saved
Rs.72000/-
through PPF,
GPF in the past
year. I have
already given
STT for
Rs.3000/- in
the last year.
Now I want to
know whether I
will have to
pay tax @ 10%
on Rs.38000/-
i.e. Rs.3800/-
earned as
profit (flat)
or as i have
saved
Rs.72000/-
through my
savings at PPF
and GPF will
save me from
paying my Tax
and this profit
will be
included in my
salary, thus
showing it as
my income & not
paying tax for
it (as i have
already
saved)?
LASTLY, what
will happen to
STT that i have
already paid?
Please reply
at:
rohitshakti_seh
gal@yahoo.com
