I am using share market just like a part time business. I am not regular in trading some time i buy few shares and then sell on the profits/loss on other days.
Will it be taxable, if yes, how to calulate tax on this income. Is this short term capital gain or business income.
31 March 2010
If you are not doing regular trading in stocks and shares then it will be treated as Short Term Capital Gain but if you trade on regular basis or doing repeated transactions in scripts then it will be treated as business
IF YOU ARE IN 10% TAX SLAB. IT IS BETTER IF YOU GO FOR TRADING AS THE RATE OF TAX ON STCG IS 15%. SO THIS WAY YOU WILL BE ABLE TO SAVE TAX. SO BETTER SHOW THIS AS YOUR BUSINESS INCOME.
CAclubindia
