Income Tax on Share Trading if no other Income

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  1. Avinash Waikar

    Avinash Waikar New Member

    My friends wife is house wife but she having investment in share on her name. She got profit of Rs.3 lacs on sale of share in short term ie within 2 months. She has no other income. Kindly guide us on how tax is calculated
     
  2. gaurav_kumar

    gaurav_kumar Well-Known Member

    Tax on sale of Short Term Capital Gains arising on the sale of Listed Shares is taxable @ 15%.

    However, as she does not have any other income - she can make use of the unused income tax slabs which say that No Tax would be levied on Income upto Rs. 2,50,000

    On the income above 2,50,000 i.e. Rs. 50,000 in your case - Tax Rate of 15% of Profit arising on sale of Shares would be levied.
     
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