Want to know basic things of income tax on trading

[GOMZO]

hi,
can anybody tell me that how and on which amout income tax calculates on trading?

1. is it on short/long term capital gains or on turn over ?
2. income tax calculates also on loss too?
3. how to file tax ?

thanks in advance

 

[nac]

^
1. Based on gains/income you earned, not on turnover.
2. Obviously not. Income tax is always calculated on the amount you earned not lost.
3. You can file electronically in IT website or manually submit your filled-in form at your nearest IT office.

For better clarification and if you got any other query pertaining taxation, please post here in this thread http://www.traderji.com/taxation-ma...-related-quieries-i-would-get-solved-131.html