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Capital gain

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Querist : Anonymous

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Querist : Anonymous (Querist)
08 August 2011 SHARES INTRADAY TRADING INCOME OR LOSS COUNT IN SHORT TERM CAPITAL GAIN OR BUSINESS INCOME AND WHAT IS INCOME TAX SLAB SHOULD BE THERE. AND WHAT IS THE AUDIT LIMIT IN THAT CASE.
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
08 August 2011 SHARES INTRADAY TRADING INCOME OR LOSS COUNT IN BUSINESS INCOME AND TAXED AT INCOME TAX SLAB RATES.

If profit + loss for the year is more than 60 lacs then assessee liable for audit.
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Querist : Anonymous

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Querist : Anonymous (Querist)
08 August 2011 AND DELIVERY BASIS TRADING IS SHORT TERM CAPITAL GAIN , EVEN THAT MY BUSINESS IS ONLY SHARE TRADING.
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
08 August 2011 delivery could be capital gain or business income depending upon the frequncy of trade and intention to buy the shares.
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Querist : Anonymous

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Querist : Anonymous (Querist)
08 August 2011 what do you mean by intention of buy please clear this what is the right definition of capital gain and business income.
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
08 August 2011 if intention is to trade then business income.
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Querist : Anonymous

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Querist : Anonymous (Querist)
09 August 2011 AND WHAT ABOUT STT ( SECURITY TRANSACTION TAX ) STT IS ALLOWABLE EXP. OR NOT.
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
10 August 2011 STT allowable in case of business and not in case of capital gains.
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