INCOME FROM TRADING OF SHARES

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This discussion clarifies the tax treatment of income generated from trading shares in the UK. It explains the difference between short-term and long-term capital gains (STCG and LTCG), detailing the tax rates applicable to each. For salaried individuals declaring share trading income, including LTCG or STCG, ITR 2 is the recommended form.

Shikha gupta

Shikha gupta (Querist)

18 August 2023 HI
How the income received from trading of shares is calculated and taxed for income tax.in both cases short term as well as long term capital gain. What is the tax rate applicable in both cases

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

18 August 2023 LTCG is taxed at 10% (over and above exempted limit of Rs. 1 lakh) when holding period is equal to more than 1 Year.
For short term it is 15% over the gain.
For intraday & F&O trading it is taxed at slab rate.

Shikha gupta

Shikha gupta (Querist)

21 August 2023 Thank you sir, can you please confirm me which ITR form is applicable if a salaried person is having income from trading of shares either Long term capital gain or Short term capital gain

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

01 May 2024 For declaration of income under CG file ITR 2.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)

10 September 2024 Good Luck.

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