Comment on Taxation for Traders - Introduction
commented on
08 Oct 2014, 05:09 PM
Rahul,
Intraday trading is considered speculative and hence considered as a business. Taxation for intraday trading works like this, add the intraday profits with all your other income and then pay tax according to the tax slab.
Short term trading (STCG short term capital gain) is 15%, but you cannot claim any deductions from your insurance purchase with this.
You can claim the benefit of investing into insurance on your total income (other than STCG)