Business of Purchase and sale of shares ?
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 December 2010
Sir, Can frequent buying and selling of shares be treated as business activity and not as short term capital gain ?
Also can there be business of dealing in F & O and commodities ? Pls guide. Thanks in advance.
Also can there be business of dealing in F & O and commodities ? Pls guide. Thanks in advance.
07 December 2010
Yes it can be treated. Refer circular no. 4/2007 for full details.
Yes there can be business of dealing in F & O and commodities. F & O in shares would be normal business income and F & O IN commodities would be speculative business income.
Yes there can be business of dealing in F & O and commodities. F & O in shares would be normal business income and F & O IN commodities would be speculative business income.
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