Shares
This query is : Resolved
CA.S.KARTHIKEYAN
(Querist)
29 July 2011
IF Shares is trading on Daily trading basis then it should be treated as business according to income tax act,Suppose the profit earned from more than 12 months shares shall be treated as Long Term Capital Gain as exempt or business profit..
29 July 2011
It depends upon the intention of holding. The shares purchased as business purchase shall not get the benefit of the LTCG exemption. But in case the shares were purchased as investment, then on completion of 12 months, these will be eligible for exemption, if STT is paid on same.
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