want to know is this amount taxable,

sushforum · Joined: 05 Sep 2009 Posts: 3 2.84 Dollars($)

I have just sold some of my shares that
i was aloted in a IPO and got 30 % profit in a span of 3 months,
just want to know is this amount taxable,
How i can save tax ?

andrewward001 · Joined: 28 Aug 2009 Posts: 51 10.82 Dollars($)

yes it will be taxable.

only way to save tax is to invest money within current financial yr

gmakerley · Posted: Tue Sep 08, 2009 9:00 am Post subject:

save tax?

andrewward001 · Joined: 28 Aug 2009 Posts: 51 10.82 Dollars($)

yes george.

in case of reinvestment it will not be considered as short duration capital gain. so it will be tax free

gmakerley · Posted: Thu Sep 10, 2009 6:33 am Post subject:

okay...gotcha

sunnyca2009 · Joined: 04 Aug 2009 Posts: 1737 36.13 Dollars($)

Any investment you have profit on is taxable and any investment you have losses on you can dedut your losses.

If you made money by sellign stock if you reivest the money with in definded time in to another stock, it will be not be taxed now, but when you sell the second stcok, that's when it will be taxed

simonhovell · Joined: 03 Sep 2009 Posts: 36 -0.12 Dollars($)

if you are not in need of money. you can save tax by reinvestment

sunnyca2009 · Joined: 04 Aug 2009 Posts: 1737 36.13 Dollars($)

sure

Who does not need money?

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