I request you to help by giving following clarifications-
a)For Financial year 2014-2015-
TAX COMPUTATION STATEMENT GIVEN BY SHARE BROKING FIRM SAYS AS FOLLOWS
(I)SHORT TERM CAPITAL GAIN=(-) 4,00,865
(II)SPECULATION BUSSINESS INCOME=4,75,386
Pl let me know what income from shares I should declare for financial year 2014-2015.I hope income=(475386-400865)=74521
What is the percentage of income tax applicable against this.
2) Besides this i have professional taxable income of about 11,00,000 lakhs for this year.
3) Hope tax will be applicable on 1100000+74521(profit of shares).
Request pl urgently help.
Regards
JARNAIL SINGH
CAclubindia
