Share income
This query is : Resolved
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.
17 October 2015
No tax payable if you are selling all your shares after a holding period of one year.
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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