Comment on Zerodha - your tax aide while you trade

Sud commented on 25 Jul 2016, 02:11 PM

Hello Nithin,

I am a salaried professional with Tax slab of 30%. I have started short term trades in Share market from last 1 month(June-16). This is my fresh entry in stocks market and earlier I never did any trading/investing in share market. I buy stocks and keep it for more than 1 day and less than 1 month. Till now I have profit of Around 30K which is around 8% of overall short turn turnover.

I have also done 1 intraday where I have loss of Rs.1250/-

My Questions
1) How much Tax I need to pay on this profit of 30K. Is it 15% or 30%( As per my tax bracket)
2) Do I need to pay any advance tax (before 15sept) on this 30K if my company deducts TDS every month(Around 15K) on my monthly salary. Or I need to pay whatever is tax on this 30K profit at the end of the year(before 31st March 2017).
3) Will I be considered as Trader and Investor by Income tax if I continue such BTST/Short term buying/selling and what % of tax I need to pay apart from my salary.
4) Will this 1 intraday transaction matter for identifying me as Trader vs Investor.

Thanks in Advance!

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