Short Term Capital Gain Vs Share Trading
This query is : Resolved
Nitin Kumar
(Querist)
31 March 2010
Dear Respected Members,
I am using share market just like a part time business. I am not regular in trading some time i buy few shares and then sell on the profits/loss on other days.
Will it be taxable, if yes, how to calulate tax on this income. Is this short term capital gain or business income.
Thanks in Advance
I am using share market just like a part time business. I am not regular in trading some time i buy few shares and then sell on the profits/loss on other days.
Will it be taxable, if yes, how to calulate tax on this income. Is this short term capital gain or business income.
Thanks in Advance
Deepak Goel
(Expert)
31 March 2010
If you are not doing regular trading in stocks and shares then it will be treated as Short Term Capital Gain but if you trade on regular basis or doing repeated transactions in scripts then it will be treated as business
01 April 2010
AGREE WITH MR. GOYAL.
IF YOU ARE IN 10% TAX SLAB. IT IS BETTER IF YOU GO FOR TRADING AS THE RATE OF TAX ON STCG IS 15%. SO THIS WAY YOU WILL BE ABLE TO SAVE TAX. SO BETTER SHOW THIS AS YOUR BUSINESS INCOME.
IF YOU ARE IN 10% TAX SLAB. IT IS BETTER IF YOU GO FOR TRADING AS THE RATE OF TAX ON STCG IS 15%. SO THIS WAY YOU WILL BE ABLE TO SAVE TAX. SO BETTER SHOW THIS AS YOUR BUSINESS INCOME.
CA Ashok Kumar Sahu
(Expert)
01 April 2010
agree with expert
Nitin Kumar
(Querist)
02 April 2010
Thank you so much. It will help me a lot.
02 April 2010
YOU ARE MOST WELCOME
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