Tax on intraday income
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 May 2017
Hi,
Suppose a person is having a small business , where he make annual income of Rs 100,000/-. And is also doing having speculation income ( buying/selling same day on equity market) of Rs 145,000. Now how much tax he will pay, if any ???. As it is below taxable limit
Suppose a person is having a small business , where he make annual income of Rs 100,000/-. And is also doing having speculation income ( buying/selling same day on equity market) of Rs 145,000. Now how much tax he will pay, if any ???. As it is below taxable limit
16 May 2017
No tax need to be paid as the total income is below taxable limit. No special rate of tax applicable on speculative income.
Message likes :
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16 May 2017
Speculation Income is taxable as business income. However since the total income is below the exemption limit no tax will be applicable.
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