Bussiness and profession
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
05 July 2012
1) Under what head income from intra day trading should be considered ?
2) Under what head delivery based trading to be considered ?
3) whether to show both income under ordinary business or speculative business?
4) Or to show such income under capital gain?
note:
transaction under delivery based trading is less but intra day trading is more...
Distinction between the intraday and delivery base is not possible.
2) Under what head delivery based trading to be considered ?
3) whether to show both income under ordinary business or speculative business?
4) Or to show such income under capital gain?
note:
transaction under delivery based trading is less but intra day trading is more...
Distinction between the intraday and delivery base is not possible.
06 July 2012
1. Intra day trading is a SPECULATIVE business and the income from such business is taxable under the head Income from Business or Profession.
2. Income from delivery based transactions is taxable under the head Capital Gains.
2. Income from delivery based transactions is taxable under the head Capital Gains.
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 July 2012
sir ,
If distinction between the two is not possible then whether to merge the both and show combindly under Buss. & Proff. or C.G.
If distinction between the two is not possible then whether to merge the both and show combindly under Buss. & Proff. or C.G.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CAPITAL GAIN BASE ON NOTIFICATION
- Form 140 tds
- Taxable or Tax exempt
- ITDS U/S.194T of Firm
- NRI starting business in India
- ADVANCE PAYMENT OF ADVOCATE
- TDS ON EMAIL DOMAIN SERVICE BILL
- Capital gain on sale and purchase of plot
- Eway bill not cancelled within 24 hous what can be due
- EXPORT COMMERCIAL INVOICE HSN CODE
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
- LLP audit under companies act
- Experienced CA recommendation from Kolkata for FNO return filing
- Interest Reporting in Form 168
- Sales of goods of amount Rs77 lakhs to a party
- Tax Demand of ₹4,650 for AY 2026-27
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
