tax on share trading

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if any person trades in shares within one year can show that as his business income also having full time employment in any company ?plz reply with proper section and how this business income is taxable.

person having 5-6 trnsaction in a year and a profit from trading Rs. 15000 & also turnover in year only 1lac.

Replies (1)

Dear Tarun,

The answer to question can not be given in general, If the volume of share transaction is very high and an individual has formed a proprietorship who in turns shows the shares as stock and not individual investment the income can be considered as business income other wise income has to be assessed under capital gains only.

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