If a senior citizen wishing to make some money from market what is the taxation involved for a trader (short term gains Vs Business income) ?
1. If say he trades once every 2-3 months and rotates say 3-4 lakhs ?
2. If say he trades every month and rotates 1 lakh or so ? ?
3. Main doubt is to know if tax will be at 15% as short term gain or 33% for above?
4. Also if tax profile is declared as 'Trader' do dividends get taxed as per slab ?
5. Further to above question, jout of curiosity, Rakhesh Jhunjhunwala and few others are renowned as 'INVESTOR'. He would be getting for all the lakhs of shares he owns lakhs of rupees as dividends. So, all the dividend amount would be tax free ?
1. If say he trades once every 2-3 months and rotates say 3-4 lakhs ?
2. If say he trades every month and rotates 1 lakh or so ? ?
3. Main doubt is to know if tax will be at 15% as short term gain or 33% for above?
4. Also if tax profile is declared as 'Trader' do dividends get taxed as per slab ?
5. Further to above question, jout of curiosity, Rakhesh Jhunjhunwala and few others are renowned as 'INVESTOR'. He would be getting for all the lakhs of shares he owns lakhs of rupees as dividends. So, all the dividend amount would be tax free ?