Comment on Taxation for Traders - Introduction

jay2015 commented on 17 Aug 2015, 09:59 PM

Hi Nithin,

I have recently joined zerodha in june’15.
I have mapped my existing demate account with zerodha trading account.
I did some intraday transaction for a few days only.
After which I came to know (by reading some online posts) that there are two categories investor and trader.
Now I already had a few scripts in my demate account which I kept as investment, and some Scripts I bought from zerodha trading account for long term.
But at the same time now as I have done some intraday, How would I get taxes?
As trader/investor?
If suppose I sell other scripts (of same company/other company) after 5 years will I get tax examption on that? (in both case where in 5th year i have done some intraday/ not doing any intradayu in that year.)
As per a talk with one of my CA Friend, It seems If I want to invest as well as trade same time, I need to have two different demate account, hence for one account transaction I will be taxed as trader and for other as investor(hence getting tax exemptipon as well for LTCG).
Can you please tell something about , as it is not clear to me.
even if there are different demate accounts I am same person who has earned some speculative income as intraday? so how tax department will see it?

Sorry for the long question, just wanted to give as much I can in same post.

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