23 August 2019
DEAR SIR KINDLY HELP ON THIS MY CLIENT INCOME FROM 1.SALARY IS 1200000. 2.CAPITAL GAIN FROM STOCK MARKET.
SPECULATIVE EQUITY GAIN = 40220 SHORT TERM EQUITY LOSS = -290280 LONG TERM EQUITY GAIN = 110552 SO TOTAL LOSS IN STOCK EXCHANGE IS 139508..
ON THE OTHER HAND HE RECEIVED DIVIDEN FROM EQUITY TRADING AS ABOVE IS 110520 AND FROM MUTUAL FUND IS 296600.
NOW QUESTION IS
1. AS PER READING SPECULATIVE GAIN ON INTRA DAY WILL BE REPORTING IN BUSINESS INCOME AFTER DEDUCTING EXPENSES RELATED TO.ITS BUSINESS INCOME? 2.SHORT TERM AND LONG TERM GAIN LOSS IS EQUAL TO -179728..(-290280+110552).. UNDER CAPITAL GAINS. 3.AND DIVIDEND FROM TRADING OF SHARES AND MUTUAL FUND IS 407120.IS EXEMPT FROM TAX?
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