Swing Trading - Profit 16.1L in from Jan 2023 to December 2023

Taxation
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Hello friends
Short term realized profit 16.1L in from Jan 2023 to December 2023! its all my swing trading profit. do i need to pay separate tax on it? i think zerodha is already deducting the taxes when we book the profit. can some one advice me?
Thank you vey much!

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Short term capital gains will apply

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Download Tax P&L

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Thank you very much for your reply! yes i have downloaded the P&L.

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ok thank you!

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Hey @DailySwingz,

Yes, you will have to pay short-term capital gains on the profits generated.

Hope this helps!

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Hi @Quicko How is the swing trading with profits in this case is classified ? Is it classified as business income or capital gains only ?

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Thank you for your reply. its buying and selling shares. capital gains!

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Thank you

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I guess your jan 2023 to march 2023 gains should already been in your filing statement for last year…only the gains starting from april 2023 to march 31 2024 you should be filing in current fy…

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Jan23 to March 23 will be adjusted in previous FY ITR as Business Income

April 23 to Dec 23 will have to wait till March 24 for ITR of this FY

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Thank you ! you are right!

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Thank you