My Basic Salary is 10,000 Rs month , and i earned around 200,000 rs since jan 2011 via trading in share market,
and as per my assumption i will earn around 400,000 via share market and 120,000 from salary so there is any tax which i have to pay, i am living in a rented house which cost me 72,000/year
Its not possible to compute income tax by looking into just these figures. Is the share market gain short term (less than a year) or long term (more than a year)? Are you a normal investor or a stock trader? Does your salary has only basic salary component or other allowance likes HRA, Medical, LTA etc are also there?