If I am not a salaried person,and I make profits through intraday and F&O trades in share market,what Percentage of tax I have to pay as I m not falling into any income tax slab....
If my profit is below 2.5 lac and above 2.5 lac in both the cases???
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Capital Gain Tax
Replies (5)
intraday trading shall be taxable as speculative business income and tax rates shall be applicable same as in case of normal business.
Whereas F&O shall be taxable as normal business income or as capital gain depending on various factors.
Whereas F&O shall be taxable as normal business income or as capital gain depending on various factors.
If You have no other Income except shares business then no need of 2,50,000 limit.You have to pay tax rate of 10 or 15 or 20% dependent upon holding period of asset.But if you have no other Income, that means your Income compromises of only shares Income,then you are not eligible for deduction u/s 80.In addition to above you have to pay education and secondary high education cess.
Sorry I didn't see that You're Intraday shares trader.So, Basic exemption limit applies to You.Sorry for above wrong comment.
Then,If I am only a f&O trader-In this case tax will be applicable as per normal tax slab???
yes.in such a case slab shall apply
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