Comment on Tax loss harvesting

CHANDRA DHANAKUMARI commented on 17 Dec 2015, 11:06 AM

Dear Sir,

I am having an trading account with Zeroda, I am housewife. my husband is NRI. right now we are decided to invest in Equity market of Rs. 10 Lakhs.

I bought stocks worth of around 6 Lakhs right now, and going to invest every month around 1 Lakh up to level of 10 Lakhs.

Initially I thought of doing trade for long term like 1-2 years. But present markets are very volatile. So I am thinking doing short term trades, based on profit booking.

I don’t have any other incomes.

My query is that if i do Trade (Turnover) of 1 crore in month am I need to pay any Income tax on this?

If yes, taxes applicable on Profit?

Please help me with all relevant information.

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