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Help regarding tax for student who is into stock trading

Tax queries 441 views 1 replies

I need some help in knowing the tax system in India. I am a student. I do some freelance work through which I earn not more than 12k a month. I recently started stock market trading. 

 

So I want to know if I will have to pay any taxes. 

 

Also - 

If say I buy a stock at 200 and sell it at 205 (intraday) and I make a profit of ₹5. So I want to know will they take ₹5 (that is the profit) or the full value (200+205=405) for the calculation of under ₹2,50,000 tax slab which has "No Tax" rate? 

 

Replies (1)
12k pm means your gross income is not more than 144k which is well below the taxable limit. so there's no need for you to file ROI or else you can file nil return showing 144k as your gross or net income which may help you in future for showing source for any investments etc.
2. only 5 rupees will be considered for taxation purpose and even that 5 rupees can be reduced by the stt and brokerage, if any


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