It will be treated as speculative business loss
CA LOVELY ARORA (C.A. B.Com (H) Graduate) 20 September 2009
it will be considered to be business loss, speculative in nature.
Rajeev (www.rkmco.com) 21 September 2009
Intraday margin losses can be only setoff against intraday margin profits , as they are speculative in nature . 44AB (tax audit ) applicable if t/o exceeds 40 lakhs.The high volume of share transactions in a short period means the intention was business and not capital gain .The total of favourable and unfavourable differences is to be taken as turnover.(turnover = profits in intraday trading + losses in intraday trading ) , if total exceeds 40 lakhs , 44AB is attracted