Please suggest relevant heads of income
This query is : Resolved
Rohan Jain
(Querist)
12 April 2016
I did 4 transactions in a year.
which heads will these be shown in?????????
1)trading in f&o -loss45000
2)intraday in shares -profit5000
3)sold shares(long term holding) to settle loss of f&o -40000
4)sale of shares(long term holding)- 60000.
CA PARAS BAFNA
(Expert)
12 April 2016
F&O Loss and Intra-day share profit has to be shown under the head PGBP (Business Income).
.
Set off of Rs 40000/- will not be allowed against 3 if STT is payable on 3.
.
3& 4 are to be shown under the head Capital Gains and to be shown as exempt if STT is paid.
.
Set off of Rs 40000/- will not be allowed against 3 if STT is payable on 3.
.
3& 4 are to be shown under the head Capital Gains and to be shown as exempt if STT is paid.
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