Comment on Classifying Your Market Activity

Vijay commented on 28 Jul 2017, 06:44 PM

Nithin, my intent for considering self a trader in not just to manage cost. Instead, as I left my job for business purpose only and will be starting it. Currently my focus is for short term returns via equity and yes parallel to that I had some MF investment i did for tax saving purpose. I am asking abiut those, if I redeem those now, can I show them as LTCG along with my this year’s profit from trading. As I mentioned that business is what I am pursuing and no salary income, isn’t it better to define self as trader? Also, like you mentioned that for trader gains or profits are taxable as normal tax bracket, instead of fixed 15% on STCG.

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