Taxation on Share Trading, Income Tax

[Jignesh Desai]

In share trading , in case most or all of the trades of an individual are short-term in nature (meaning the shares were sold before completion of one year after purchase) , after the threshold of what amount of turnover , can the income tax authorities deem the profit earned from such trades as "Business Income" ?

Or , is it that , because the individual has traded in his own assets (shares) only , irrespective of whatever turnover he does , he can always show the profit earned from such trades as "Capital Gains" in his Income Tax returns ?

Also , how would the income tax authorities deem such such profits as (meaning Capital Gains or Business Income ) , based on size of turnover , in case most or all of the trades are long term in nature (meaning the shares have been sold after having been held for a period of more than one year) ?

Also, how would the profits be taxed in case they were earned from trading in unlisted shares ?