Income Head of Share Trading
This query is : Resolved
Aranya Dey
(Querist)
11 May 2009
Plz. answer the following as soon as possible:-
What is meant by :-
1)Daily Trading
2)Forward Trading &
3)Holdin of Shares ?
Under which income head this will come plz. mention like under"Business & Profession" or "Capital Gain"
What is meant by :-
1)Daily Trading
2)Forward Trading &
3)Holdin of Shares ?
Under which income head this will come plz. mention like under"Business & Profession" or "Capital Gain"
CA.MANOJ LAMBA
(Expert)
11 May 2009
send me test mail i will give u detail reply
Rahul Mishra
(Expert)
11 May 2009
daily trading
means not taking actual delivery of shares, to square off transaction with in same day, this is also called as speculation transaction. this will be taxable under speculation profit, if assesse is having business of share trading then profit of loss can be taken in head of business or profession.
forward trading
means purchse or sell of shares, nifty at f & o (Future & option)where setelment takes place at end of month
holding of share
means taking delivery of share in demat account or physical delivery
means not taking actual delivery of shares, to square off transaction with in same day, this is also called as speculation transaction. this will be taxable under speculation profit, if assesse is having business of share trading then profit of loss can be taken in head of business or profession.
forward trading
means purchse or sell of shares, nifty at f & o (Future & option)where setelment takes place at end of month
holding of share
means taking delivery of share in demat account or physical delivery
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