Tax on share trading

[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

AI Summary

Taxation on Share Trading: Who Pays? Husband's Funds, Wife's Trades, Different Tax Brackets. A forum user inquired about taxation on share trading profits using funds transferred by her husband. She had both short-term and long-term profits and asked how taxation should be handled. A respondent advised that the income could be taxable for either spouse. The user clarified that her husband is in a higher tax bracket, while she might not owe taxes due to her lower income. The respondent suggested that she could declare the income in her tax return since she earned the profits through trading.