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BUSINESS INCOME OR CAPITAL GAIN

This query is : Resolved 
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(Querist)
08 October 2010 my client do trading in shares as well as investment in shares in daily basis,only at bse & nse at cash market and not in F & O on daily basis , more than 200 invoices are made per year....

how to do accounting for that for income tax purpose ?

PLEASE TELL ME URGENTLY WITH SUPPORTING CIRCULARS & NOTIFICATIONS & ALSO IF ANY SECTION RELATED TO THIS.

PLEASE EMAIL ME AT- viragshah.ca@gmail.com



THANK YOU VERY MUCH IN ADVANCE.........
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
08 October 2010 Please read curcular no. 4/2007 to solve your doubts. In my view looking in to the volume and frequency of transactions it could be considered as business income for income tax purpose.
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CA. Chikkerur C R

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CA. Chikkerur C R (Expert)
20 October 2010 Intention at the time of purchase & voLume will determines whether its business income or capital gain
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