i use to invest in stock mkt. I buy & sell stocks on monthly basis. is my profit or loss made out of this taxable?
2006-06-25 21:58:35 · 4 answers · asked by San 2 in Business & Finance ➔ Taxes ➔ India
Your buying & selling of shares. If you take it as investment, then all the shares sold within one year will be treated as short term capital gains and it will be taxed @10% flat. (U/s 111A). If the same is not an investment then it will be treated as Trading Income (Business Income) which will be taxed at narmal rate of tax. If you buy and sell the shares in the same day, then it will be treated as speculation business and will be taxed @30%.
2006-06-26 00:04:34 · answer #1 · answered by Anonymous · 5⤊ 0⤋
Dear San
I am an tax consultant. You can join my group for all your tax queries tax_investment_group@yahoogroups.com
Now ur question. Taxability of your income depends upon the time u hold them
As u told u buy and sell shares on monthly basis, ur income is taxable @10%. on the total capital gain earned by you on the share sale purchase.
2006-06-26 00:00:23 · answer #2 · answered by apurav a 3 · 0⤊ 0⤋
All profits from the stock market are taxable unless they are contained in a Roth IRA plan. Losses are deductable to a point.
2006-06-25 22:03:05 · answer #3 · answered by scavenger_meat 3 · 0⤊ 0⤋
There is a lot of good info on this subject right here.
2006-06-25 22:02:00 · answer #4 · answered by Anonymous · 0⤊ 0⤋