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Short term Capital Gain

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(Querist)
03 July 2010 Suppose any person has a short term gain in shares of rs.50000 and other income is rs. 160000 Can I treat the short term gain from share trading as a profit from business of share trading.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
03 July 2010 If the assessee is regularly trading in shares,it is better to declare the income under the head'Income from business/profession'.
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taxindiaconnect

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taxindiaconnect (Expert)
05 July 2010 Yes, If you think that you have all the charater of running a business of trading in the securities on regular basis, you can do so.
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