Income under Capital gains or business income
This query is : Resolved
17 December 2021
I invested in equity (intraday, short term and long term capital gains). I have an annual intraday profit of 70,000 rs and annual speculation turnover of rs 80000. I also have long term loss of 6,00,000 which I have been carrying forward for last two years. I have brought forwarded short term capital loss of 9,00,000. Under what head should I show my short term trades, capital gains or business?
Dhirajlal Rambhia
(Expert)
17 December 2021
THE INTRADAY TRADE SHOULD BE DECLARED UNDER HEAD PGBP.
DELIVERY BASED TRANSACTIONS SHOULD BE DECLARED UNDER CAPITAL GAIN, BE IT SHORT OR LONG TERM.
DELIVERY BASED TRANSACTIONS SHOULD BE DECLARED UNDER CAPITAL GAIN, BE IT SHORT OR LONG TERM.
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