Income from share market

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HOD Logistics(Import Export Commercial)
23 Points Posted on 23 January 2022

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 ?

 

 

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On 23 January 2022 at 10:38 Report
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Quick Summary
This discussion clarifies the tax treatment of share market income, specifically focusing on losses incurred in one financial year and profits made in the next. It explains that short-term capital losses from intraday trading can only be set off against speculation income, not other types of income. The tax rate for short-term gains is 15%.

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Profession
19978 Points Posted on 23 January 2022
Please mention whether short term or long term
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On 23 January 2022 at 12:18
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HOD Logistics(Import Export Commercial)
23 Points Posted on 23 January 2022

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

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On 23 January 2022 at 12:29
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Kkk
885 Points Posted on 23 January 2022
For short term gain u have to pay tax and intraday loss is your speculation can be settled from speculation income only.
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On 23 January 2022 at 15:24
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Profession
19978 Points Posted on 23 January 2022
15% tax. payable on short term.
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On 23 January 2022 at 18:17

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