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.
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