Capital gain or business turnover
This query is : Resolved
Quick Summary
06 November 2020
Sir,
Assessee trading shares on the basis of delivery basis through Stock Exchange paid STT. How to treat the trading of Sales turnover as business income or STCG on shares(assume holding below 12 months)?
Assessee trading shares on the basis of delivery basis through Stock Exchange paid STT. How to treat the trading of Sales turnover as business income or STCG on shares(assume holding below 12 months)?
CA R SEETHARAMAN
(Expert)
06 November 2020
It's STCG as it's delivery based trading.
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07 November 2020
Sir, If the holding period more than 12 months and sold?
CA R SEETHARAMAN
(Expert)
07 November 2020
It's long term capital gains.
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