Tax paid for the income from share trading

gk (service) (156 Points)

20 October 2016  

Dear Experts,

As per my knowledge, I assumed (!) the tax applicable for the income from Share Trading are 1. Long Term Capital Gain 2.Short Term Capital gain. But some of my friends informed that other than these two, Tax for the income earned from Speculative trading is different and it is 30%. (either intrady trading or BTST trading).

I would please be requested to clarify on the above three type of Incomes. Also please let me know once we have paid the short term capital gain tax, whether again we need to pay the IT for the same amount gained as per the total income?

I mean - my total income for the financial year is 6 lacs. Out of this 6 lacs, 3 lacs gain is through Short term and 1 lac through Intraday / BTST (50k each assume) and 2 lac long term capital gain. In this case what is the total tax to be paid?

Thanks

regards

Krishnan