ITR Filing, Aug. 9 -- As taxpayers swing into action to file their income tax returns (ITR) ahead of the 15 September deadline, a Reddit post has sparked debate on how income tax is levied on profit earned from the stock market. During ITR filing, a Reddit user, who goes by 'anoopdreams,' was stunned when his CA revealed that his taxable gain was Rs.1,03,297.57, while the realised profit was just about Rs.21,600.

Turning to social media, he wrote:

"Hey fellow traders, I'm really confused about my taxes and hope someone can shed some light.

Elaborating on his trading style, he mentioned that, " I primarily do swing trading with a GTT stop-loss. Sometimes, a trade I intend to hold for several days hits the stop-loss and gets exited on th...