Re : Short capital gain on stocks trading
This query is : Resolved
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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
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
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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15 December 2021
Sir, In that case can we claim the expenses to reduce the speculative business income profit..
15 December 2021
Expenses related to the sell transactions can be deducted from the sell consideration.
15 December 2021
Sir, Can we claim other related expenses like internet , power bill etc. which may incurred for online trading purpose
15 December 2021
Generally not allowed when it is under Capital gains. If intraday trading, all such expenses are deductible.
15 December 2021
Sir, Sorry for the continuous queries..
is there any case of difference between STT deducted and not deducted
Sir, Sorry for the continuous queries..
is there any case of difference between STT deducted and not deducted
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