Tax on intraday income

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Querist : Anonymous

Querist : Anonymous (Querist)

16 May 2017 Hi,

Suppose a person is having a small business , where he make annual income of Rs 100,000/-. And is also doing having speculation income ( buying/selling same day on equity market) of Rs 145,000. Now how much tax he will pay, if any ???. As it is below taxable limit

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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16 May 2017 No tax need to be paid as the total income is below taxable limit. No special rate of tax applicable on speculative income.

Message likes : 1 times

Studentsca

Studentsca (Expert)
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16 May 2017 Speculation Income is taxable as business income. However since the total income is below the exemption limit no tax will be applicable.

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