share trading
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
16 July 2010
sir
assessee has a business of coaching classess having net income of rs 180000
i wants to know about income treatment of following incomes:
1 intra day income rs 2000
2 purchased share on first day and sold on next day ( net loss 15000)
3 loss from ncdx market( commodity)market (loss rs 35000)
4 loss from future and option (loss rs 15000)
assessee has a business of coaching classess having net income of rs 180000
i wants to know about income treatment of following incomes:
1 intra day income rs 2000
2 purchased share on first day and sold on next day ( net loss 15000)
3 loss from ncdx market( commodity)market (loss rs 35000)
4 loss from future and option (loss rs 15000)
Aditya Maheshwari
(Expert)
16 July 2010
1. Speculation Profit - 2000
2. Business Loss - 15000 (Looking towards the period of holding of shares)
3. Speculation loss - 35000
4. Business Loss - 15000
Business loss (15+15) Rs. 30k can be set off against coaching income
Speculation Loss of Rs. 33k (35-2) to be carried forward and not available for set off.
2. Business Loss - 15000 (Looking towards the period of holding of shares)
3. Speculation loss - 35000
4. Business Loss - 15000
Business loss (15+15) Rs. 30k can be set off against coaching income
Speculation Loss of Rs. 33k (35-2) to be carried forward and not available for set off.
Aditya Maheshwari
(Expert)
16 July 2010
F & O is share and currency futures is non speculation income and from commodities it is speculation income.
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