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Intraday trading activities for a female

425 views 2 replies

Hello,

I am a female of 23 year old.i am a housewife who does intraday trading on a regular basis.i have a few queries

1. Is this income  treated as a regular income?? If yes am I exempted 2.5 lakhs?

2. Is this business income? Then can I decrease the tax by adding other charges like internet, phone, advisory charges etc.

3. What about short term trading? Am I suppose to pay a straight charge of 15 percent on that?

It would be real help if anyone can provide some examples n teach me since I am a science student.

Thank u so much.

Replies (2)

IMHO this should be treated as Speculative business income and ITR4 should be used. Others experts please help.

1) It does not come under normal income if it is traded on a recognised stock exchange and will taxed under 111A.

2) If the shares or securities is not traded on any stock exchange then it will be clubed under normal salary/Biz income

3) Seperate special tax of 15% is apllicable and you can carry forward loss also. 

Plz download from following Link . this 20 page PDf tutorial contains plenty of Illustrations and will guide you - how to calculate Tax for short term capital gains 

https://www.incometaxindia.gov.in/tutorials/14-%20stcg.pdf

I hope this helps

 


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