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How to Comput Tax

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Querist : Anonymous

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Querist : Anonymous (Querist)
29 December 2010 Mr. A is not having any income but if he invest in shares & do investment and Intraday say more then Rs. 60 Lakh p.a. then Tax Audit is applicable to him or not ? His Profit is treated as short term gain or business income ? He is to pay flat 30% tax or first claim Rs. 1.60 Lakh exemption & other deduction and on any balance he is to pay tax according to slab. ?

Thanks in advance
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CA Shailesh Kumar Bhagat

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CA Shailesh Kumar Bhagat (Expert)
29 December 2010 Audit ios applicable.

treated as business income.
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