Capital gains on shares

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Sivaramakumar (Querist)
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23 June 2015 in any profits earned on intraday basis on purchase and sale of shares (CASH Market) will go to reduce the cost of the shares if one or two shares are taken delevery of that particular scrip is undertaken.

will it be considered as a shortterm gain.

if the same scrip is sold after 12 months will it be exempted

Nikhil Kaushik

Nikhil Kaushik (Expert)
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23 June 2015 intra day trades are considered as speculative business activity (not capital transactions)

Sivaramakumar

Sivaramakumar (Querist)
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23 June 2015 your view holds good only for derivatives,which is considered as speculative transaction and my question is taking delevery and selling it.

However thanks for your views

Nikhil Kaushik

Nikhil Kaushik (Expert)
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23 June 2015 dear friend,

precisely my view is not applicable for derivatives But apply only to intra-day trades in shares. Kindly check your tax facts.

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