3)Suppose my father transferred ₹3lakhs in my bank account & then I used it in my trading account,do I have to pay tax since it exceeded ₹2. 5 lakh? (I am a student)

General
1
1 Like
2

You don’t pay taxes on funds transferred but on income earned. In this case your father would have paid taxes on the 3 lacs since he’s earned it and it’s his income. You needn’t pay any tax on this unless you’ve used this 3 lacs and made profits trading the markets.

Go through these modules on Varsity to know more on taxation for stock markets: http://zerodha.com/varsity/module/markets-and-taxation/

2 Likes
3

I have used this 3 lakhs to trade in the market.Will I have to pay tax according to my total traded amount or to my profits?