Share income tax liability

Pukhraj Kumar.......

                     you are doing trading in share.......STT already deducted in transection amount......whether shares held more then one year on which STT is paid is exempted U/s.10(38).........otherwise tax on short term capital gain under section 111(A) chared @ 15%. 

Right

Is share Income is ur prinicipal income or Incidental Income? If Purchase and sale of securities is your business, even though you paid Security Transaction Tax, you are liable to pay tax on it as Income from business and you can claim STT paid as deduction against your Business Income! Nevertheless It is exempt in your hands u/s 115O!