Shares Trading Taxation Rule

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Amit Lipare (Querist)
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29 March 2009 from past 1 year I earn around 150000 from income from shares but i dont know how it will be taxable under income tax act whether all amount will be taxable or only profit will be comes under short term capital gain if any body having details related to calculation tax liablity on shares trading please give me

SANJAY VERMA

SANJAY VERMA (Expert)
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29 March 2009 Profit on shares held for more than one year and STT paid exempted.Profit on shares held for less then one year taxed as STCG u/s 111A.But if share trading is treated as business then profit is treted as business income although you can claim tax rebate of STT paid.

Amit Lipare

Amit Lipare (Querist)
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30 May 2009 No my client is salary person and he treat a share trading as a part time task once again i ask you how it will treat in ITR 4

how i can calculate the trading profit

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veena

veena (Expert)
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21 December 2009 Prepare P&L for the same business.claim the exp like demat fees, bk charges, stt paid, commission and brokerage, computer exp, electricity, depreciation on computer and then work out the net income and offer it to taxation