Regarding capital gains
This query is : Resolved
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
13 July 2015
you need to report it under business income...
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
13 July 2015
dear CMA Gul. please read section 43(5).
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.
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.
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.
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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