Profit on sale of shares taxable under which head
This query is : Resolved
17 September 2008
Is there any criteria for treating profit on sale of shares on which STT paid as business income of capital gain since there is huge difference in tax rates relate to both head. Quote case law or related section if any.
17 September 2008
In case it is the adventure in the nature of trade then treat it as Income from Business & Profession otherwise Capital Gains. Basiclly the transactions may be covered as Adventure in the nature of trade if the volume of transactions is large and the intention for transacting is not for investment.
17 September 2008
If the volume of transaction is on day to day basis i.e Like jobbing than it should form part of business income otherwise if deliveries given at time of sale and taken at time of purchase than it will be in the nature of investment and it will be covered under capital gain
18 September 2008
Even the profit or loss from delivery transactions can be covered under the head of Business Income on the basis given in my earlier reply as per above.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Capital Gail Exemption Certificate
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Taxation of crypto futures in India Fy 2026- 2027
- MSME disclosure and disallowance
- Issuing of delivery challan by seller of goods
- Accounting treatment of AMC alongwith the purchase of Laptop
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
