salary income and income from share trading.

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md asif iqubal (Querist)
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01 April 2011 hi friendz !!!!!!!!!!!!!!! i work in a share trading co. i hv salary income and income from doing share trading on my own a/c.i do trading on actual delivery basis and intra day transactions too.i wana ask how shuld i differenciate btwin my share trading incomes for income tax purpose,like are they Short term or Long term CG or speculatio income? wht is the basic exemption limit for A.Y 2011-2012?

CS ,CMA Shambhu Kr. jha

CS ,CMA Shambhu Kr. jha (Expert)
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02 April 2011 your income will be taxable under two different head , under the income from salary and second under the short term capital gain
Income that you generated under the income from short term capital gain will be taxable at flat rate while income from salary will be taxable as per the given slab .

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