For ex. I hold 100 quantity of Stock X from 2 years. But in between I am doing only Intrraday trading (never delivery,BTST ) in the same stock almost once in every week.So If I sell that stock today,will there be capital gain tax??
If you have done all trades which have been non delivery, the stock that you bought 2 years back would be sitting in your demat account itself. So if you sell that today, it will be considered as if you were holding for more than 2 years and profit you have made will be considered as long term gain.
In India there is no tax on any long term capital gain. So no tax on this. But for all those non delivery trades that you have done, you have to pay the tax any any profit you have made.
Sir
Capital gain tax for intraday is as per the tax slab ?
Intraday trading is considered as speculative business income and not capital gains. Yes speculative business income will be added to your other income and tax according to the slab you fall in. Check this: http://zerodha.com/varsity/module/markets-and-taxation/
Thank you sir,
But I am in 0% tax slab that is below 0-2.5 lack it means I don’t have to pay any capital gain tax on intraday ?
You have to pay taxes based on booked profits. So if you have sold a stock in profit and having loss on a stock which is in your portfolio, you will have to pay tax on profits made on stock sold.
There is an interest concept called tax loss harvesting, where you can sell stocks which are in loss to book a loss and net it off against the profits made. Buy back the stock that was sold in loss if you intend to continue holding it. I have explained in detail here.
It is not called capital gain tax if u have profits from intraday. It is business income. Yes, if you are in the 0 tax slab, no tax need to be paid on this income.
Ohk sir thank you