13 July 2015
known that profit arising from sale of shares(intra day) is speculative in nature will it be reported under head income from head capital gains or will it needs to be taken under income from head business and profession
14 July 2015
Dear deven u have to see whether the quantum of transactions are huge or small. in case there are few intra day tranx then it is short term capital gain income.
incase the intra day tranx are in huge quantity the it is income from business.
Please enlighten on what amounts to few and what amounts to huge...don't think section 43(5) gives any different treatment to a few speculative transactions.
CAclubindia
