I have a query on Tax to be paid on share market investments.
For short term capital gain tax is 15%,if a person is in 30%Income slab-He have to pay as per income tax slab or 15% as capital gain tax?
short term capital gain tax?
Intraday trades and F&O trades comes under short term gains or as per income tax slab as it is considered as business income
Profits on sale of Shares held for less than 365 days is taxable @ 15% provided stt paid and listed even if in 30% slab.
Indraday Trading profits is considered as Speculative Business Profits.
F&O profits is considered as business profit.
Tax audit is applicable if net profit less than 8% of Turnover
CAclubindia
