Hi All,
I have few questions related to tax calculation on share market profit.
- How is tax calculated on profit from share market? Is it flat 10% or 15% or profit amount is added to my annual income and then percentage depends on tax slab in which my total income falls?
- I have purchased a ABC share at different times with different price and sold partial quantity . For example see below table
| Scrip | Buy/Sell | Date | Qty | Rate | Total |
| ABC | Buy | 15-Apr-09 | 100 | 125 | 12500 |
| ABC | Buy | 20-May-09 | 150 | 160 | 24000 |
| ABC | Buy | 5-Aug-09 | 200 | 175 | 35000 |
| ABC | Sell | 10-Oct-09 | 175 | 190 | 33250 |
| ABC | Buy | 20-Oct-09 | 200 | 205 | 41000 |
| ABC | Sell | 21-Oct-09 | 200 | 210 | 42000 |
| ABC | Buy | 5-Nov-09 | 100 | 160 | 16000 |
| ABC | Sell | 5-Nov-09 | 100 | 164 | 16400 |
Blue colur is delivery based and orange color is Intra day trading.
How to calculate the profit on ABC from above table? which method is used to calculate the profit? I mean FIFO(first in first out ) or anyother method.
3. Do profits on deliver based and intra day trading should be calculated seperatley?
Regards
Chandra
CAclubindia
