Income tax
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
31 May 2012
what is head for income arising under shares trading both long & short term?
CA PARAS BAFNA
(Expert)
31 May 2012
In case shares are kept as an Investment, then question of LT and ST arises. In such case , Income is shown under the head "Capital Gains".
.
In other case- it can be shown under the head of " Business Income" i.e "IFBP".
.
In other case- it can be shown under the head of " Business Income" i.e "IFBP".
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