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Speculation loss

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Querist : Anonymous

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Querist : Anonymous (Querist)
02 September 2011 Dear Sirs,

Wanted to know if only intraday transactions are to b treated as speculative? What is treatment if the shares are purchased today and sold the following day? Are these to be treated as speculative as well until the delivery of shares in the demat account which then become short term?
My second question is that what is the treatment of F&O transactions. Are these all speculative?
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U S Sharma

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U S Sharma (Expert)
02 September 2011 Intraday = speculation
BTST = usually speculation but can be considered as short term capital gain/loss if both the contract notes are available on diff dates. (purchase on one date and sale on diff date for same security)
F&O = Business income
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