STCG as business income

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B K D (Querist)
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01 August 2022 I have some Short Term C G ... how do i show it as business income without maintaining book of accounts ..

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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01 August 2022 Short term capital gains should be declared under head Capital Gains.
But if those transaction pertained to any business activity, it can be declared as business profit.
So, how the gain was derived?

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B K D

B K D (Querist)
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05 August 2022 gains were derived from stcg from stock market .. i have small proprietorship business as well .. due to covid there was hardly any business and we faced losses and books of account was not maintained ..

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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05 August 2022 The capital gains should be declare under schedule 'Capital Gains'. Get capital gain statement from your broker.

B K D

B K D (Querist)
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05 August 2022 K .. Have got everything from the broker . A CA told me to file stcg as business income and hence wanted to confirm .. thanx for confirmation

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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05 August 2022 If you are doing intraday trading or F&O trades, then the same is declared under business income. But generally delivery based shares investment, is declared under Capital Gains.

B K D

B K D (Querist)
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05 August 2022 Yes Intraday n FnO go in business income . Short Term Delivery can also go in business it was confirmed by motilal oswal but book of accounts have to be maintained .. Dunno about long term delivery ..

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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06 August 2022 Short term and long term delivery based transactions can be assessed under capital gains. Whatever you have chosen the trend, the same is to be continued in future years.

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