Taxability for online trading of shares

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

20 March 2012 Dear Sir/Madam,
I wanted to know whether the income earned by online daily trading of shares taxable even if it does not exceed the Basic Exemption Limit i.e. Rs. 2,00,000 in a financial year ???

Rajnikant Vadigoppula

Rajnikant Vadigoppula (Expert)
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20 March 2012 1.if u r regular trader than it will be considered as income from speculation business under the head income from business of profession.

2.if it is under exemption limit it is not taxable.

3. but for safe side file the return of business income.

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Querist : Anonymous

Querist : Anonymous (Querist)

20 March 2012 thankyou Sir for your reply ...