Rate of income tax

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CA Shruti Bhavsar (Querist)
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28 March 2013 If some pvt co. is involved in the business of Shares (i.e . Sale and purchase of shares), @ what rate of income tax will be applicable to it??

30.90%

or

Rate at which STCG or LTCG is taxed??

Sumit Grover

Sumit Grover (Expert)
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28 March 2013 You need to check various criterias set out in the Circular No. 4/2007 issued by CBDT for determining whether it is business income(charegable @ 30%) or capital gain.

http://law.incometaxindia.gov.in/dittaxmann/circular/cir4_2007.htm

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