Loss on day trading
This query is : Resolved
Swasti Purohit
(Querist)
24 July 2014
How to treat loss on day trading o shares & commodities?
Can that be taken as short term capital loss?
And what will be the sale consideration & cost of acquisition?
Can that be taken as short term capital loss?
And what will be the sale consideration & cost of acquisition?
24 July 2014
then its speculative business under income tax act.
Swasti Purohit
(Querist)
24 July 2014
When is such dealing shown under capital gain?
24 July 2014
when you are sellign an investment which is a capital asset as per income tax act...if u are buying n selling intra day then its a speculative business.
Nikhil Kaushik
(Expert)
26 July 2014
only when you take delivery it can be classified as capital gains.
total turnover shall be computed as intra day gains plus (intraday losses)*(-1)
total turnover shall be computed as intra day gains plus (intraday losses)*(-1)
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