Income from share market

Hello,have a question releated to Income.

1.In one financial year,if I loose 50 lac in share market.This 50 lac I invested from my savings.

2.Next financial year I got profit 50 lac from share market.

Can I pay income tax for 50 lac earning ?

If yes,tell me about my loss occurred?

Can I adjust income tax against my loss ?

 

 

Replies (4)
Please mention whether short term or long term

Short term.In intraday loss.but next year earn from intraday trading

For short term gain u have to pay tax and intraday loss is your speculation can be settled from speculation income only.
15% tax. payable on short term.

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