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Re : Short capital gain on stocks trading

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(Querist)
15 December 2021 Dear Expert,

A individual who is having salary income get the profit from stocks trading , short term capital gain.. his sales turnover (stocks) Rs.25,00,000.00 and purchase turnover(stocks) Rs.24,00,000.00 .. can he show this turnover and profit Rs.1,00,000.00 as professional income.

Kindly confirm
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
15 December 2021 No. Its not professional income. If Intraday trading, it comes under Speculative business income. If delivery based investment, declare it under Capital Gains.
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praveen

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praveen (Querist)
15 December 2021 Sir, In that case can we claim the expenses to reduce the speculative business income profit..
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
15 December 2021 Expenses related to the sell transactions can be deducted from the sell consideration.
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praveen

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praveen (Querist)
15 December 2021 Sir, Can we claim other related expenses like internet , power bill etc. which may incurred for online trading purpose
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
15 December 2021 Generally not allowed when it is under Capital gains. If intraday trading, all such expenses are deductible.
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praveen

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praveen (Querist)
15 December 2021

Sir, Sorry for the continuous queries..

is there any case of difference between STT deducted and not deducted
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