Intra day share trading
This query is : Resolved
sidambaraselvan
(Querist)
23 November 2013
For calculation of Income tax on Intraday Share Trading
Whether the following are allowed as deductions - (i) Securities Transaction Tax; (ii) Brokerage charges; (iii) Stamp Duty; (iv) SEBI Tax; (v) Service Tax; (vi)Transaction Charges.
What is the difference between Presumptive income and Speculation income.
Whether the following are allowed as deductions - (i) Securities Transaction Tax; (ii) Brokerage charges; (iii) Stamp Duty; (iv) SEBI Tax; (v) Service Tax; (vi)Transaction Charges.
What is the difference between Presumptive income and Speculation income.
23 November 2013
1.NO
2.YES
3.YES
4.NO
5.NO
6.YES
Presumptive income means income assumed to be xyz % of turnover like in sec 44AD =8% of turnover.
speculative income means income from speculative activities like shares buying and selling at high requency.
2.YES
3.YES
4.NO
5.NO
6.YES
Presumptive income means income assumed to be xyz % of turnover like in sec 44AD =8% of turnover.
speculative income means income from speculative activities like shares buying and selling at high requency.
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