Income tax liability

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

09 October 2012 in current year i have have done trading (intra day) in wife a/c & having profit of 2.10 lacs. there are no other income in current year. can u please let me know What will be tax treatment for same & at what rate it will be taxed.

thnx

CA AYUSH AGRAWAL

CA AYUSH AGRAWAL (Expert)
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09 October 2012 Current Year Not yet Completed.
Till 2 Lacs No Taxes...
Intraday profit Means Speculation Profit.
on 10000 Pay Taxes @10.3% Income Tax.
ThereAfter You Earn Pay IT at Same rate Till Profit Arrives 5 Lacs.