So I have a very basic yet important question, If some ones adds some funds in his demat account and over the period of 10-11 months he do intraday trading but at the end comes in NPNL(no profit no loss) and withdraws his money back to his bank account . Will that money be counted as taxable income?
For eg: In my case I have added a total 88L in last 10 months from April 2020 but till now I have not been able to make in profit so if I withdraw my money tomorrow to my back account , will I be liable to pay a tax on that 88L?
Thanks…
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transferring your own money from own saving a/c to your own trading account & vice versa , isn’t any type of income, its just a transfer, so it didn’t considered as income. BUT some banks may charge you as NEFT charges while pay-in in trading a/c. not for payout.
BTW, i why you didn’t invested your money 10 months back, when market was very cheap. anyway the good thing is that you haven’t faced loss in this period.
you can try zerodha smallcase (which is alternatively good for safe & new traders) & writing far OTMCE if you have proper knowledge about derivatives.
trading/investing without any plan doesn’t not make any sense, so suggest you make plan, calculate the expected return from market & other investment options before switching or reentering. Good Luck!
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You are liable to pay income tax on your trading income only when you make profits. In the case of Loss/NPNL (No Profit No Loss) situation, there is no tax liability. However, it is recommended to report all your transactions while filing your ITR in-order to avoid any additional charges.
Hope this helps! 
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