INCOME TAX
This query is : Resolved
CA Keshav Arya
(Querist)
24 December 2007
HOW WILL BE A PERSON INVOLVE IN DAILY TRADING IN SHARES TAXED ?
WHETHER HE IS TAXED AS LTCG OR STCG OR HIS PROFIT WILL BE TAXED AS INCOME FROM BUSINESS OR PROFESSION ?
AND WHY ? PLEASE SPECIFY THE REASON.
THANK YOU.
WHETHER HE IS TAXED AS LTCG OR STCG OR HIS PROFIT WILL BE TAXED AS INCOME FROM BUSINESS OR PROFESSION ?
AND WHY ? PLEASE SPECIFY THE REASON.
THANK YOU.
CA. O.P. Agarwalla
(Expert)
25 December 2007
I think purchase and sell of shares in daily trading will fall under business.
CA Keshav Arya
(Querist)
25 December 2007
CA B.S.Sridhar
(Expert)
25 December 2007
In case of a daily trader , we assume that he is not taking delivery of the scrips. (Margin Trading). In that case , the same shall be assessed as Speculation Business Income.
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
- Employee secondment
- Ito add credit side of bank
- Clarification on GST, TDS, and Accounting Provisions for Import/Export
- Clarification on GST, TDS, and Accounting Provisions for Import/Export Commission Agents,profes. ser
- GSTR9 Annual Return
- Positive Balance in RCM Liability/ITC Statement – Commercial Rent RCM – Guidance Required
- Form 144 TDS Return Validation error
- Applicability of tax on invoice
- Closer of business and itc of capital goods
- LLP audit and disclosure
- Accounting Treatment of Civil work to install PORTA Cabin for office use
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
- Need Professional Opinion - AY 2012-13 Old Demand & AY 2026-27 Refund Adjustment
- CALCULATION OF DEFFERED TAX - OP BL IS DTL & CURRET IT DTA
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
