Comment on Taxation Simplified

Aijaz commented on 26 Feb 2014, 09:30 PM

It’s confusing here please clear
I have bought Ibreal in futures about 10lots and got profit of 6lakhs in carrying forward the position for 3 months and in the same year I have bought equity share and kept it hold for 4 months and got profit of 4 lakhs..
What is my tax liability?
Should I show myself as trader or an investor for two different trades…
Over all I have profit of 10 lakhs for which tax slab my case fall Short term capital gain or business income..
I don’t have any source of income and this is my only source of income

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