Intraday trading and income<5 lac ..my tax liability

#1

What will be my tax liability if i have dne intraday equity in last fin. year and profit is
Case 1 : <2.5 lac
2 :<5lac
3 : >5lac

(Dnt have any other income in all of d above)

Intraday is considered as speculative business income so it shall fall in nrmal slabs of 10,20 n 30 % ?

Do i even need to file itr if income frm intraday falling in <2.5 lc or <5lac category ?

@quicko @nithin

#2

Hi @Varun_Katyal ,
It is not mandatory to file ITR in case your income is below the basic exemption limit of INR 2.5 lacs. However, it is always a good practice to file ITR since you can claim the expenses and deductions.

You are required to file an ITR if your income is more than INR 2.5 lacs.

Since intraday is treated as a business income it will be taxed at the slab rate.

#3

Ok … thanks