Share income

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prateek (Querist)
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17 October 2015 if I start in share investing rs 1 lakh and after a year I double that money so as per laws I am not liable to pay capital gains but what if I make this a chain and keep on doing it for 10 years in a streak after 10 years I make 5cr12 lack with just starting with 1 lakh so what are the taxes I am liable in this situation from all tax point of view.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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17 October 2015 No tax payable if you are selling all your shares after a holding period of one year.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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17 October 2015 Results of repeated trading in securities has to be necessarily declared yearly under the head 'profits and gains of business or profession' and CANNOT claim exemption under 'capital gains'.

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