Regarding capital gains

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devendharreddy (Querist)
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13 July 2015 known that profit arising from sale of shares(intra day) is speculative in nature will it be reported under head income from head capital gains or will it needs to be taken under income from head business and profession

Nikhil Kaushik

Nikhil Kaushik (Expert)
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13 July 2015 you need to report it under business income...

CMA Gul S

CMA Gul S (Expert)
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13 July 2015 Its a short term capital gain. this will be part of other income and not capital gain. the tax slab will be a normal calculations

Nikhil Kaushik

Nikhil Kaushik (Expert)
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13 July 2015 dear CMA Gul. please read section 43(5).

Ankur Singhal

Ankur Singhal (Expert)
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14 July 2015 Dear deven
u have to see whether the quantum of transactions are huge or small.
in case there are few intra day tranx then it is short term capital gain income.

incase the intra day tranx are in huge quantity the it is income from business.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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14 July 2015 Dear Ankur Ji.

Please enlighten on what amounts to few and what amounts to huge...don't think section 43(5) gives any different treatment to a few speculative transactions.

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