banner_ad

Speculative profit on share trading

This query is : Resolved 
Avatar

Querist : Anonymous

Profile Image
Querist : Anonymous (Querist)
16 August 2018 The asssseee salaried employee during the year has got speculative gain on sale of shares. Sale price 90 lacs cost 88 lacs net gain Rs.2 lacs. Whether to show as Income from business or other sources. Whether Tax Audit be applicable .
Profile Image

Rajkishore Paul

Profile Image

Rajkishore Paul (Expert)
16 August 2018 Income will be shown 'Income from Capital Gains/loss on sale of investments'. ITR 2 return to be filed. Declaration to be produced in schedule ‘AL’ of value of assets and liabilities if total income exceeds Rs 50 lakhs.
Profile Image

Nikhil Kaushik

Profile Image

Nikhil Kaushik (Expert)
16 August 2018 dear Paul. Please advice properly. Speculative income will be covered under business income. Plus the income is only Rs 2 lakhs. So how did it exceed Rs 50 lakhs?
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
14 May 2026
Senior Accounts Executive

Karan Gupta & Co.

New Delhi

Graduate (Any)

View Details
Company
27 May 2026
Audit Assitant

Virender K Gupta and Co

New Delhi

B.Com

View Details
Company
ARTICLESHIP 17 May 2026
CA Article /Trainee

Malik Sunil & co

New Delhi

CA Foundation

View Details
Company
ARTICLESHIP 08 June 2026
Internal & Taxation Article

O P Bagla & Co LLP

New Delhi

CA Inter

View Details
Company
Featured 26 May 2026
Account Executive

SMJ global advisors pvt ltd

New Delhi

B.Com

View Details
Company
14 May 2026
Financial Analyst - Remote Finance Expert

HiringBridge

Ahmedabad

CA

View Details
Company
ARTICLESHIP 04 June 2026
Article

Rakhecha & Co.

New Delhi

CA Inter

View Details
Company
19 May 2026
Accountant

ca kunjan

Mumbai

CA Inter

View Details