Short selling profit taxable ? please clear

This query is : Resolved

CS RAJESH C.CHOUDHARY (Querist)
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03 September 2011 Respected sir,

If we trade intra day trading in stock market, how the tax responsibility is applicable on its profit ?

Tell me Is there any limititaton of turnover for individual in intra day trading ?

Thanks in advance.

Ravikant

Ravikant (Expert)
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03 September 2011 intra day trading profit / loss is taxed under Profit / Loss from Speculation under Income from business head.
the net profit / loss made by the speculator is treated as Turnover for Tax audit limit

CS RAJESH C.CHOUDHARY

CS RAJESH C.CHOUDHARY (Querist)
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04 September 2011 thanks ravikant sir.

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CS RAJESH C.CHOUDHARY

CS RAJESH C.CHOUDHARY (Querist)
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13 September 2012 sir what is the procedure to do llb?
i m ca and cs final student and wanted to do llb can i do ?

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