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Tax on equity dealing

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(Querist)
25 September 2012 Dear Members..

Its very urgent & please guide....

While trading in call and put options at NSE, which types of taxes i have to bear or whether earned profit shall be treated as short term capital gain tax?

Thanks
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CA. Subhash Dangi

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CA. Subhash Dangi (Expert)
25 September 2012 Only Service tax (ST) and Security transaction tax (STT) and Turnover tax (TOT) are applicable in derivative trading.
If U are Day trader => Business Income
If delivery based trade => Short Term or Long Term depending upon holding period.
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Chandan Gupta

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Chandan Gupta (Querist)
25 September 2012
thanks for ur prompt reply sir...

but i want to know what is the rate of turnover tax and what is day trader...
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CA. Subhash Dangi

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CA. Subhash Dangi (Expert)
25 September 2012 No idea about rate of TOT.
Day trader means purchase and sale of shares or derivatives by squaring the positions on the same day without carrying any positions to next trading day.
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