Income on Share Trading
I am doing online share trading from my SBI Demat Account with Rs 4 lac, which I have borrowed from my mother�s account, & I have two savings bank accounts, 1 in Allahabad bank & another in SBI with a minimum balance of Rs 1500. I have a PAN Card also. I have not filled any return, as I have no fixed income yet. Now I want to know that is it necessary to file returns if my income from online share trading exceeds Rs. 150000 in one year? And if yes then how much tax should I pay & is there any way to exempt from such Tax?
2 Answers from Attorneys
Re: Income on Share Trading
short term capital gains are exempted from IT.
Re: Income on Share Trading
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