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Short Term Capital Gain or Speculation gain

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(Querist)
11 August 2008 If an assessee do Share trading in Intraday over and excess of the Margin money and incurs loss or profits on such trancations will it amount to Speculation or short Term capital Gain ?
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CA RAMESH KUMAR AHUJA

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CA RAMESH KUMAR AHUJA (Expert)
11 August 2008 It is profit or loss from Speculation Business.
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Nagaraj SV

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Nagaraj SV (Querist)
11 August 2008 If The Assessee Purchases only the shares equal to the exact amount available with him and he does an intraday trading will it also amount to Speculation business as the shares are sold without taking actually delivery of it in the DMat Account ?
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CA RAMESH KUMAR AHUJA

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CA RAMESH KUMAR AHUJA (Expert)
11 August 2008 Intraday trading relates to Sale and purchase of a scrip with equal quantities and it involves jobbing profit or loss which is speculative in nature. Question of taking or not taking of deliveries does not arise.
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