income from transaction in securities
This query is : Resolved
20 June 2009
i have intra day income and other than intra day income what is the treatment of these incomes while i filing my income tax return and what is the treatment of stt?
thank you in advance.
thank you in advance.
21 June 2009
For all intra day transactions you have to made separate calculations.It will always be your business income under Speculative Income.
In case of Non Intra Day transactions it is your choice to treat the transactions to business income or investments. It all depends upon the circumstances and your intention to invest money. If u treat it as business income then you can claim STT as business expenditure or if u treat it as investment then from Capital Gain no treatment of STT will be made. Even u cannot treat the STT as your cost of acquisition.
In case of Non Intra Day transactions it is your choice to treat the transactions to business income or investments. It all depends upon the circumstances and your intention to invest money. If u treat it as business income then you can claim STT as business expenditure or if u treat it as investment then from Capital Gain no treatment of STT will be made. Even u cannot treat the STT as your cost of acquisition.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- STCG....................................................
- Supply through E-commerce Operators
- Sales return eway bill
- TAN for Partnership
- Relief u/s Section 89
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Specified Profession
- STCG on ETF gold & silver
- If there is Long term capital gain exists how much total income to be considered
- Agriculture income or business income
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
