Shares trading

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kishore kumar (Querist)
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24 November 2014 we are investing in shares and trading on regular basis. our total sale of shares during the F.Y.2013-14 was above Rs.3Crores.in this regard my query is, can we show profit on sale of shares under capital gains or whether we fall under Tax Audit.

Amol S Joglekar

Amol S Joglekar (Expert)
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24 November 2014 In all share trading transactions, the issue revolves around whether INVESTMENT or TRADING.
If it is considered as INVESTMENT, the gain will be taxed under Capital Gain.

Rupesh Jain

Rupesh Jain (Expert)
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25 November 2014 you are doing the business transaction then you have take tax audit for that.
if you are selling share w/o taking delivery of security then gain and loss both take in total and then if above one crore then tax audit will applicable

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