Tax on share trading, Income Tax

[Padmalatha Gali]

Hi,

I did some share trading with money that my husband transferred to my a/c.

There are some short term profits and some are long term.

How taxation is considered in this case where I used money from my husband?

Regards,

Padma

Posts / Replies

[Ganeshan Kalyani]

The income should shall be taxable in either of the spouse .

[Padmalatha Gali]

Thanks! Ganeshan,

I have one more doubt based on your reply.

you mentioned "either of the spouse", in this case my husband is in 30% slab. But I might fall under less than 2.5 lac slab ( means no tax). In this case who is considered for paying tax on the income of profit earned on share trading.

Regards,

Padma

[Ganeshan Kalyani]

You may consider it in your ITR as income is earned by you out of share trading.