Speculative Income in Shares Trading

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This query is : Resolved

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This discussion explores whether selling shares purchased on different dates, especially when combined with same-day purchases, constitutes speculative income. The user is seeking clarification on how their DEMAT account debits shares and how this impacts capital gains calculations. They've encountered differing interpretations from brokers, leading to confusion about what qualifies as a speculative transaction versus a standard capital gain.

Sanjai bhadouria

Sanjai bhadouria (Querist)

07 April 2022 I had 100 shares of GTPHATHWAY in DEMAT on 06 Jan 2021
I sold 100 shares allocating from DEMAT on 14 Jan 2021 at 09:30 AM
I bought 30 new GTPHATHWAY shares on 14 Jan 2021 at 11:25 AM
My query is that
Is 100 shares purchased on 4 jan 2021 will be debited from DEMAT
or
70 shares purchased on 6 Jan 2021 and 30 shares purchased on 14 Jan 2021.
Is this will have speculative income in capital gain statement.?

Any rule/guideline may be shared.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

08 April 2022 You sold 100 shares of your holding by 9.30 am .
This 100 shares will be debited in your demat account on 14th Jan 21 same day of sale.
Your purchase of 30 shares will be credited to your demat account after 2 or 3 days.
Hence this is not a speculative transaction.

Sanjai bhadouria

Sanjai bhadouria (Querist)

08 April 2022 This is my case with icici direct.they have sold 70 share from demat and 30 shares sold , which was cash purchased on same day .
In this way 30 shares buy and sell considered intezaar and created speculative income.
I protested that this is cash buy hence cannot be adjusted with sale of share from demag.but they do not agree.
What is further action advisable by expert?

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)

08 April 2022 You don't consider it as speculative income in your ITR.

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