imthiyaz
Tax software Devt professional
[ Scorecard : 34]
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Posted On 20 September 2009 at 15:09
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Intra trading loss how to treat it ? Turn over is more than 40 lakh ? whethee it can be treated as stc loss or business loss?
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santhosh
student
[ Scorecard : 572]
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Posted On 20 September 2009 at 16:33
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Speculative Business Loss
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LOVE ARORA
C.A. Student, B.Com (H)
[ Scorecard : 857]
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Posted On 20 September 2009 at 17:57
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it will be considered to be business loss, speculative in nature.
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Uday Kiran
CA Final
[ Scorecard : 3333]
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Posted On 20 September 2009 at 19:50
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It will be treated as speculative business loss
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Rajeev
www.rkmco.com
[ Scorecard : 945]
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Posted On 21 September 2009 at 00:04
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Intraday margin losses can be only setoff against intraday margin profits , as they are speculative in nature . 44AB (tax audit ) applicable if t/o exceeds 40 lakhs.The high volume of share transactions in a short period means the intention was business and not capital gain .The total of favourable and unfavourable differences is to be taken as turnover.(turnover = profits in intraday trading + losses in intraday trading ) , if total exceeds 40 lakhs , 44AB is attracted
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Sumit Jain
PCC Student
[ Scorecard : 4604]
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Posted On 21 September 2009 at 10:52
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business loss
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