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Taxation of Share Trading

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(Querist)
31 May 2009 hi,

What will be Tax Treatment of Share Trading under the Income Tax Act. regarding :
1. Intraday Trading
2. F & O( Derivatives)
3. Shartterm .

Will intraday and F & O will be part of business income.

Pl. explain in detail
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jatin kapoor

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jatin kapoor (Expert)
01 June 2009 intraday trading and derivatives trading both are treated as speculation business income .

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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
01 June 2009 Trading in derivatives shall not be deemed to be a speculative income. Ref:-proviso (d) to section 43 (5) of the Income tax act,1961.




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