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How to file ITR 2 filing online for AY 2024-25 For Share Capital Income
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For the assessment year 2024-25, the tax rates on share trading income in India vary based on the type of transaction and the holding period. Short-term capital gains (STCG) from equity shares and equity mutual funds, held for less than 12 months, are taxed at a flat rate of 15%. This is applicable only if Securities Transaction Tax (STT) is paid on the sale.
Long-term capital gains (LTCG) from the sale of equity shares and equity mutual funds, held for more than 12 months, are taxed at 10% on gains exceeding ₹1 lakh in a financial year. This rate also applies if STT is paid on the sale.
For intraday trading, considered speculative business income, the gains are added to the taxpayer's total income and taxed according to the applicable slab rates. Losses from intraday trading can be set off against speculative gains only and carried forward for four years.
For future and option trading, considered Non - speculative business income, the gains which is decided on the basis of absolute turnover to be added to the taxpayer's total income and taxed according to the applicable slab rates under new tax regime or old tax regime.
Losses from f&o trading can be set off against any business income only and carried forward for 8 Assessment years.
Tax on Share Market Income AY 24-25 | Tax on Shares Capital Gains AY 24-25 | Share market ITR
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