Profit on Sale of Shares Business income or Capital Gain
This query is : Resolved
VIPIN GUPTA
(Querist)
10 September 2021
One of our client was doing trading in shares but was limited to 8-10 transactions a year and was keeping the shares as investments. Now in the F/y 2020-21 he has done more than 70 transactions of purchase and sale. My Query is can we treat his income as business income and taxable U/s 44AD @ 6% or we have to take it as capital gain.
CA R SEETHARAMAN
(Expert)
11 September 2021
Yes, you can treat it as business and opt 44AD.
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