HOW MUCH INCOMETAX TO BE PAID ON INTRA DAY EARNINGS.
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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)
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.