F/O and commodity tax rate :

Q1. How much tax % one needs to pay on the profit of futures / options trade, and is there is any exemption limit or tax free limit after which the tax is applicable ?

Q2. How to one needs to pay tax on the sale/purchase of gold and silver, and is there is any exemption limit for that also ?

Thanks,
Satyajit

Asked on September 13, 2016 in Taxations.
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4 Answer(s)

Hello Satyajit

The Income from futures and options is added to your normal slab income for an individual.  So the limit is normal exemption limit upto 2.5 lacs tax is NIL and between 2.5 Lac to 5 Lac 10% , Between 5 Lac & 10 Lac its 20% and beyond 10 Lacs its 30% .

Sale of Gold and Silver physical is also same as above except if you treat it as capital asset where it will taxed as per capital gains rates.

Regards

Answered on September 14, 2016.
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Hello Satyajit

The Income from futures and options is added to your normal slab income for an individual.  So the limit is normal exemption limit upto 2.5 lacs tax is NIL and between 2.5 Lac to 5 Lac 10% , Between 5 Lac & 10 Lac its 20% and beyond 10 Lacs its 30% .

Sale of Gold and Silver physical is also same as above except if you treat it as capital asset where it will taxed as per capital gains rates.

Regards

Answered on September 14, 2016.
Add Comment

Hello Satyajit

The Income from futures and options is added to your normal slab income for an individual.  So the limit is normal exemption limit upto 2.5 lacs tax is NIL and between 2.5 Lac to 5 Lac 10% , Between 5 Lac & 10 Lac its 20% and beyond 10 Lacs its 30% .

Sale of Gold and Silver physical is also same as above except if you treat it as capital asset where it will taxed as per capital gains rates.

Regards

Answered on September 14, 2016.
Add Comment

Hello Satyajit

The Income from futures and options is added to your normal slab income for an individual.  So the limit is normal exemption limit upto 2.5 lacs tax is NIL and between 2.5 Lac to 5 Lac 10% , Between 5 Lac & 10 Lac its 20% and beyond 10 Lacs its 30% .

Sale of Gold and Silver physical is also same as above except if you treat it as capital asset where it will taxed as per capital gains rates.

Regards

Answered on September 14, 2016.
Add Comment

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