Comments on: iam doing intraday share trading how my tax will calculate if my only source of income is trading?

By: Balasubramanian

Balasubramanian — Wed, 10 Mar 2010 10:59:59 +0000

If your only income is from share trading and you do intra-day share trading, calculate your net profits at the end of the financial year. If the total profit earned is more than Rs. 1,50,000, you pay tax as per slab rates on the excess of profits over the first 1,50,000. For the next 1 lakh of profit earned you will have to pay tax @ 10%. This will be treated as business income and short term gains tax has no place for intra day share trading profits.
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By: delta

delta — Wed, 10 Mar 2010 10:51:59 +0000

if you are doing only intraday trading, u have to pay short term gain tax on the profits, if they exceed the minimum taxable amount. and u have to get the accounts audited by a CA.
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By: Jss

Jss — Wed, 10 Mar 2010 10:30:59 +0000

Tax on short term capital gains from the sales of shares where you paid security transaction tax is 10% (for AY 2008-09) and 15% (for AY 2009-10) while there is no tax on long term capital gains. In such cases if you hold shares for more than a year, you have capital gain.

References :
http://mytaxes.in/index.php?topic=30.0

By: Remo

Remo — Wed, 10 Mar 2010 10:13:59 +0000

Profit gained through Intra day trading is called as Short term capital gain that is profit earned from the investment with in one year. You need to pay 10% tax on your profit.
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By: meet

meet — Wed, 10 Mar 2010 09:28:59 +0000

if intraday is only source then its ur bussiness income and u have to pay 10% on ur profit…after all expences….
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By: paul samysudamanisrihariniranjoo

paul samysudamanisrihariniranjoo — Wed, 10 Mar 2010 08:53:59 +0000

business income.
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