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| Discuss clarification regarding short term capital gains on intraday trading at the Brokers & Trading Platforms within the Traderji.com - Discussion forum for Stocks Commodities & Forex; hello everyone.i am new to traderji and want to start intraday trading in equities.i have ... |
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#1
3rd August 2007, 08:49 PM
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clarification regarding short term capital gains on intraday trading
hello everyone.i am new to traderji and want to start intraday trading in equities.i have a query about short term capital gains. as i understand about brokerage ,stt,stamp duty,on intraday trading is that these all charges are automaticaly paid by the brokerage firm from our trading account after every transaction.what about the short term capital gains on profit made by me on intaday trading in stocks.how and when would i have to pay the short term capital gains. as i am a student and have never filed any income tax return , i am not able to figure out fully that how will i be taxed by the income tax department.since i would be strictly doing intrady trading and have no other source of income like salary or anyything else, will i be treated as a businessman or trader and would have to pay only income tax on the profits arising through online intraday trading or would i have to pay short term capital gains only at the rate of 10 percent.how would i compute my income tax.please expain me in detail as i am new to trading and taxes. thanks in advance for your time and help. eagery awaiting your response. 
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