TAX ON INTRADAY GAINS F&O and EQUITY

Taxation
1

@Quicko

WHAT IS THE TAX I NEED TO PAY FOR INTRADAY EQUITY GAINS

FOR EXAMPLE - I BUY IREDA AT 164. X 1000 QUANTITY AND SELL FOR 172 X 1000 QUANTITY THE SAME DAY

PROFIT IS 8000

WHAT TAX I NEED TO PAY AND WILL THIS INCOME BE EQUITY INCOME OR IT WILL BE Intraday/Speculative

2

If you have done Intraday for equity shares (e.g. IREDA), it will be Speculative income and will be taxed as per your tax slab.

If you have done intraday for F&O, it will be non-speculative income and will be taxed as per your tax slab.

3

Hey @vikas5,

Gains from intraday trading are classified as speculative business income. This will be taxable as per your applicable slab rate.