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From : Dilip Nilekar at 01:59 PM - Jan 01, 2012 ( )

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Most of us Trading  Intra-Day and earning a good amount also and some time bad luck also. Now end of the Financial Year we have to file the Tax Return. We have so many Financial Professionals in this forum and seriously initiated this Thread,  asking them to help all members who are not aware of Tax rates on INTRA-DAY  earning.

Dear Siddharth,GVN Reddy and other Seniors please guide us explaning the SLABS of Tax for Stock Mkt  Intra-day Traders(Individuals) only and How and On Which Amount the Income Tax is Calculated. Also Guide us how to Save the Tax .

Hope every body will help each others with Firm knowledge of Tax Laws.

Since ,31st March 2012 is fast approaching us , Experts will reply As soon as possible(ASAP)

Regards .

From: dilip nilekar at 07:41 PM - Jan 01, 2012

Forgotton to ask one more point i.e most of us  are trading in INDEX OPTION NIFTY on INTRA-DAY BASIS. On this which Rate is applicable? .Is it 30% on Total Net profit earned in a year or 15% ? And  please tell us the TAX RATE on this also.

In Reply to above Message (1 to 20 out of 26) - Latest Replies are put on Top | First | << Previous | Next >> | Last |

From : Jignesh Patel at 10:08 AM - Mar 01, 2013 ( )

intraday mein kamai hoti hai ki tax bharna pade haha lol..

From : Vinay Kumar at 10:31 PM - Feb 28, 2013 ( )

How and from where to get the previous years (say 4/5 years back) trading profit and loss ?

From : Pradeep Pradhan at 10:21 PM - Feb 28, 2013 ( )

Very nice thread..... nyone can explain with simple example so that evryone can understand like me....

ITR for equity trader


ITR for stock future trader..... ????Smile


Thnx in advance

From : Shiv Prasad at 09:10 AM - May 21, 2012 ( )

Any profit loss fom derivatives will be treated as normal income..Income /loss can be set off against any loss/profit u r earning from other business if any,

if u dont have any other income, it will be treated as ur only income and profit will be taxed as per it slab given by H.Parekh. Means if u have  lac profit, it will be taxed after deduction of  lacs (lic/ppf ) etc, and 15000 medicalim, and ur basic exemption.Balance will be taxed as per slab.

Second: if you are trading in cash scrips intraday, its purely speculation profit/loss..30% tax applicable.

If u take delivery today and sell within 1 week  also, in good qty and u r doing it regularly, though tax applicable is only 15% as per short term capital gain, the I t officer can charge u at the rate of 30% also if he feels so, as money used for buying and selling shares with the purpose of making profit is more or less speculative in nature/real business income.So be ware..Assessing officer can trouble u...So before trading/in cash shares with limited time limit , think twice, u will go for 3-4 percent and ur profit will be taxed 30% +interst and penalties as mostly we treat this as short term capital gain, and it demand comes after 2 years...so thtas all..

Also regarding audit, even individual has to make audit if their purchase and sales totals of turnover exceeds 60 lacs.i.e.u have bought  purchase for 30 lacs and sales for 30 lacsl....in delivery..( i will clear it if any change is there)

From : Jy Seb at 12:15 AM - May 21, 2012 ( )

@ Hemant Parikh, yes u r right

From : Hemant Parikh at 11:45 PM - May 20, 2012 ( )

DEAR  Jy Seb .

AS PER UR WORDS "  STT is adjusted with ur tax amount "



From : Jy Seb at 11:41 PM - May 20, 2012 ( )

I would like to add some littile more info to Niladri Jana 's answers.

1. If u specify ur profession as trader, then u can get the benefit of cost deductions running hthe business from ur earned profits. 

2. STT is adjusted with ur tax amount

From : Seetharaman Kuppuswamy at 10:41 PM - May 20, 2012 ( )

Many other capital investments (house, buildings, real estate, bank deposits) are considered long term if the holding period is 3 or more years.[9] Short term capital gains are taxed just as any other income and they can be negated against short term capital loss from the same business.  

in case  stock investments and MF  investment  one year plus one day  ie  366 days from date of investment is considered as long term  and  capital gain taxes are exempted  in such  cases  hence  no offset of long term capital losses  is permitted  below one year profits are considered  as short term capital gains and taxed at 15% of the profit

From : Seetharaman Kuppuswamy at 10:30 PM - May 20, 2012 ( )

intraday profits/are treated  as buisness income and taxed according to  the slab ur income is in  and  nodubt  income  from intraday  is the sum arrived at  profit--loss=net profit plus ur ur other income.  shoort term  capital gains taxed at 15%  while short term cSapital LOSS can be spread  to  8years  to offset  future short term  capital gains  

From : Mr Elango at 11:11 AM - Jan 15, 2012 ( )

already we are paying too much to govt by doing intraday and there is no money left to pay as a tax..sorry dilip.govt asking tax for our profit but they never share loses we make in mkt 

From : Mr Elango at 11:10 AM - Jan 15, 2012 ( )

already we are paying too much to govt by doing intraday and there is no money left to pay as a tax..sorry dilip 

From : Murli Chainani at 10:46 AM - Jan 15, 2012 ( )

Any refund / rebate on intraday losses?

From : Dilip Nilekar at 10:14 AM - Jan 15, 2012 ( )

Expecting  put more light on this Thread? Any More Information which can help all of us?

From : Hemant Parikh at 10:46 PM - Jan 03, 2012 ( )



From : Dilip Nilekar at 10:27 PM - Jan 03, 2012 ( )

Thanx Niladri for this excellent advice. All of us should start this year.

Suppose ,if we have not disclosed in our IT return at all (in these years  that we are trading in  stock mkt)then what will be the impact?

From : Jagdish Kumar Pahuja at 07:06 AM - Jan 02, 2012 ( )

Pl also consider tax audit if the annual turnover is more than Rs 60 lakhs.But the question is as How this turnover is calculated?

From : Niladri Jana at 01:56 AM - Jan 02, 2012 ( )

Dilipji, another very important fact to keep in mind for every trader - You have 8 years time to to recover all your lost money from market. If you check ITR2 there is carry forwrad loss from prev years...so ... if you have lost say 5lk ( total in Stocks/Commodities/MF etc ) and kept IT informed through yearly ITR...any following year when you gain interms of SHORT-Term Capital Gain, you should be able to square off that loss. In that way you will not have to pay any tax till the amount of previous years losses are getting squared off. The 15% TAX will comein play when no more loss figures are present in your ITR2.

Captial Loss in Stocks can only be squaredoff by Capital gained from Stocks....and you have 8 years to do this.

So, friends, keep track of your losses annually.

Note: If you guys have not done...start doing it from this year. Once you are confident of FNO tricks just make the money & square off your losses in future...remember..8yrs time is in your hand.

From : Sandip Sathe at 06:59 PM - Jan 01, 2012 ( )

Where is profit, Bhai .......?

From : Ajit Mishra at 05:41 PM - Jan 01, 2012 ( )

i think as STT is applicable for every trade,no extra tax is applicable.

but not sure....

From : Mohan Joseph at 05:35 PM - Jan 01, 2012 ( )

As of 2008, equities are considered long term capital if the holding period is one year or more. Long term capital gains from equities are not taxed if shares are sold through recognized stock exchange and STT is paid on the sale. However short term capital gain from equities held for less than one year, is taxed at 15% [7] (w.e.f. 1 April 2009.[8]) (plus surcharge and education cess). This is applicable only for transactions that attract Securities Transaction Tax (STT).

Many other capital investments (house, buildings, real estate, bank deposits) are considered long term if the holding period is 3 or more years.[9] Short term capital gains are taxed just as any other income and they can be negated against short term capital loss from the same business.

Suggst google search .Authority http://en.wikipedia.org/wiki/Capital_gains_tax#India

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