banner_ad

Gains on speculation in Stock Market

This query is : Resolved 
Profile Image

Profile Image

(Querist)
12 June 2009 Hi,

a) Can I have seperate portfolios for investment and trading, whereby gains on the investment portfolio will qualify as LTCG/STCG and those on the trading portfolio will qualify as income from speculation?

b) Suppose I have share A in my investment portfolio, I sell share A and buy it back on the same day. Can I show it as a speculative transaction not affecting my
investment portfolio i.e. FIFO not applying and simply an unrelated speculative transaction?

c) Is it to my discretion as to which transaction to classify as an investment and which to classify as speculative? If not what are the parameters on which IT dept categorises these?

Thanks & Regards
Profile Image

M Prabhakar Menon

Profile Image

M Prabhakar Menon (Expert)
13 June 2009 For LTCG/STCG the period of holding the investment/securities is the criteria hence date of purchase and date of sale is important. This can be easily known without much effort from your broker's statement which is a part of your records.Your discretion does not arise.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
ARTICLESHIP 14 May 2026
CA ARTICLE

PRAVEEN GARG & CO

Faridabad

CA Foundation

View Details
Company
19 May 2026
Article, CA & Paid Assistant Positions

Aggarwal Sarawagi and Co

New Delhi

CA

View Details
Company
12 May 2026
Accounts Executive

Nafa Group

Mumbai

B.Com

View Details
Company
26 May 2026
Audit executive

vdsr & co LLP

Chennai

CA Inter

View Details
Company
ARTICLESHIP 31 May 2026
Article Assistant

KPRS And Associates

New Delhi

CA Inter

View Details
Company
19 May 2026
Accountant

ca kunjan

Mumbai

CA Inter

View Details
Company
16 May 2026
Account & Audit Asst

RAHUL KHANDEBHARAD & ASSOCIATES

Nashik

B.Com

View Details
Company
23 May 2026
Article Assistant

Geeta Manchanda & CO.

New Delhi

CA Inter

View Details