Tax calculation

swaminathan (SE) (39 Points)

17 January 2010  

 I am an software professional and i trade intraday as well.My taxable income rate is at 10%.Suppose if i borrow  4-5lacs and trade.Within 1 year,i return  the borrowed amount 4-5lacs. Would the borrowed amount be considered as taxable income and if so,what would be the tax rate? Now what would be my tax calculations?