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INTRA DAY TRADING

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(Querist)
12 October 2010 Please tell me that Intraday trading Profit is shown where? Profit directly to be shown in Trading A/c or in Profit & Loss A/c.

It is a case of a person dealing in shares only but not a broker.
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CA Shailesh Kumar Bhagat

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CA Shailesh Kumar Bhagat (Expert)
12 October 2010 income / loss is treated as income from business.
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Ankur Goyal

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Ankur Goyal (Querist)
12 October 2010 Yes Sir, it is business income. But where it will be shown. In Trading A/c or in P/L A/c.?
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Ankur Goyal

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Ankur Goyal (Querist)
13 October 2010 plz help me....
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NITIN SHARMA

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NITIN SHARMA (Expert)
19 October 2010 IN MY OPENION AFTER CHARGING BROCRAGE IT SHOULD BE SHOWN TO P& L A/C BECAUSE TO EARN THIS INCOME THE ASSESSEE DID NOT FACED ANY DIRECT EXPENSES.
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