Short term capital gain..

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

30 March 2014 Hallo friends,

I just want to ask, whether an assessee who has income as short term capital gain on share trading is subject to 15% tax..? If he has no other income even no interest income at all.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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30 March 2014 yes. please refer section 111A....

Prof. Bajaj

Prof. Bajaj (Expert)
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02 August 2014 In my opinion, if the assessee has no other income, then income earned on share trading can be treated as business income and will be exempt upto basic exemption limit.

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Nikhil Kaushik

Nikhil Kaushik (Expert)
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02 August 2014 Yes Sir it can be. but historical treatment of such income by the assessee and other factors such as the intent, frequency and nature of transactions etc shall play important role in determining the taxation of the income

Prof. Bajaj

Prof. Bajaj (Expert)
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02 August 2014 Agree with you Sir.

More details about the assessee would be required to provide the right advice.