Profit on sale of shares

priti (chartered accountant) (31 Points)

27 February 2012  

Treatment of short term profit from sale of sahares

 

Below is the transaction. kindly let me know the rate at which profit is taxable

Bank A/c………………….………Dr.     34,076.27  
Brokerage A/c…………………   Dr.         135.93  
STT A/c…………………………..Dr.           43.00  
      To ICICI Banking. A/c
 
   
      To Reliance Power Ltd.. A/c        10,500.00
      To Profit on sale of shares A/c            23,755.20