Income arising on transfer of shares

This query is : Resolved

mounika (Querist)
Follow

15 June 2017 Dear Supporting members,
Please guide me how a commission income arising from transfer of shares need to be treated if the person is involved in trading of shares. Whether such commission comes under the head income from business?? if not, under which head it covers. Please provide the details of relevant section or rule under which it covers.

Thanks in advance

Amol S Joglekar

Amol S Joglekar (Expert)
Follow

15 June 2017 commission business can be taxed under income from business / profession.
If the amount is small, you can tax it under income from other sources as well

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now