I am new trader and iwant to know about Indian Income Tax on intraday trading on options type.
Example - I have buy in option 10000 and sell about 11000 and I get only 900 Main profit after deduction Service Tax on brokrage,Stamp duty and other charge.
then My question is which ammount will be applicabe on Income TAX, 21000 or 11000 or 900 or 1000 or any Other.
Note: - I use Per day buy and Per day sell mean Intraday in NSE/BSE OPTIONS.
Net income after deduction of brokerage, ST & other charges would be taxed as Income from Speculation
But Rachit Sir, A transaction entered in Option Future market is not considered as speculative transaction as per proviso to section 43(5).....??.. Correct me if i am wrong...
You mean to say, Only 900 will be applicable for incometax and other total transaction 21000 no metter how this is?
## Sagar , Don't understand what you says, Can you elaborate this.
Thanks
Rakesh Kumar
CAclubindia
