INTRADAY GAIN/LOSS
This query is : Resolved
27 January 2010
CAN THIS GAIN OR LOSS BE SHOWN IN ITR AND IF LOSS IS THERE CAN WE CARRY FORWARD IT OR NOT?
IF GAIN IS THERE THEN WHAT TYPE OF TAX IT ATTRACTS?
I AM TALKING ABOUT INTRADAY TRADING IN STOCK MARKET.
IF GAIN IS THERE THEN WHAT TYPE OF TAX IT ATTRACTS?
I AM TALKING ABOUT INTRADAY TRADING IN STOCK MARKET.
27 January 2010
Loss from the speculative busines is not allowed.
27 January 2010
Intra-day transactions are known as spectulative transactions.
Loss from such transactions are eligible for carry forward for 4 assessment years.
But this would be set-off from the "speculative profits" only.
( Humour - Government thinks that speculators should continue their activities till they make profits ! )
Normal rate of taxation is there on speculative transactions also.
SO BROTHER "CARRY ON" SPECULATIVE TRANSACTIONS ! "CARRY FORWARD" IS AVAILABLE.
Loss from such transactions are eligible for carry forward for 4 assessment years.
But this would be set-off from the "speculative profits" only.
( Humour - Government thinks that speculators should continue their activities till they make profits ! )
Normal rate of taxation is there on speculative transactions also.
SO BROTHER "CARRY ON" SPECULATIVE TRANSACTIONS ! "CARRY FORWARD" IS AVAILABLE.
27 January 2010
Agree with experts.
27 January 2010
spectulative loss can be carried forward till 4 A.Y.
But you have to file the return within time on belated return it can't be carried forward.
But you have to file the return within time on belated return it can't be carried forward.
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