25 May 2010
Can Intraday Share Trading Income can be considered as Capital Gain Income .... give circular , case law or notification in relation to same
25 May 2010
Profit/Loss incurred through intra-day selling is treated as Speculative profit/loss, hence it is treated as normal income for the year under consideration and you have to pay a tax at a normal rate. If the nature of intra day sales and purchase is like a business then in some case I.T. department would treat the said transaction as your business income.
Depends upont the volume of transaction and the amount.. if its done rarely than it will be STCG and if its done regularly than it will be treated as business income...
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