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ICICI share trading under BTST scheme

This query is : Resolved 
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(Querist)
22 April 2008 If a person trades under the BTST(Buy today sell tomorrow) scheme whcih is being offered by ICICI to its online share traders,is the profit made considered as speculation profit?
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R.V.RAO

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R.V.RAO (Expert)
22 April 2008 UNLESS DELIVERY BASED ,IT IS SPECULATIVE BUSINESS INCOME.
ONLY DERIVATIVE TRADING IS CONSIDERED NON SPECULATIVE.
R.V.RAO
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MANAS ROUT

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MANAS ROUT (Expert)
22 April 2008 it will be taxable under business income because here the intention of the assessee is earning profit not holding up the assets and getting some return from it.
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CA Shailesh +91 9393926464

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CA Shailesh +91 9393926464 (Expert)
23 April 2008 The activities performed by the person is in the nature of business
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