25 February 2009
Sir I want to know that if an individual is trading in shares not for investment purpose but for short term then his income shall be computed under which head of income?PGBP or Capital Gains.. plz tell the treatment of STT paid. also clarify the valuation of stocks with him for the calculation of income for the year. also the method (FIFO, LIFO, Weighted average etc.) will change if bonus shares are allottd to the assessee. Thanks..