My son who is 19 yrs. wants to open DMAT account and start share trading. He will use his accumulated pocket money/ gifts / my contribution as initial investment. He do not have any other income.
How his tax will be computed ? The short term and long tem profits he gets will it be subject to income tax, if it is with in the no-tax limit (upto 2 lakh) ?
Windfall Tax on all stock market profits (including Retirement fund, 401Ks and Mutual Funds!) Alas, it is true – all to help the 12 Million Illegal Immigrants and other unemployed minorities! in America. There are amenities in India also.
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