Loss on day trading

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Swasti Purohit (Querist)
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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?

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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24 July 2014 then its speculative business under income tax act.

Swasti Purohit

Swasti Purohit (Querist)
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24 July 2014 When is such dealing shown under capital gain?

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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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

Nikhil Kaushik (Expert)
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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)

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