Income from shares

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10 Points Posted on 20 December 2021
sir,
please help me in case of loss in intra day equity trading in shares can be filed with loss or tax audit is required in that case. and sir what is treatment for notional income from shares.
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On 20 December 2021 at 22:34 Report
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This discussion clarifies the tax treatment of income from shares, specifically addressing losses incurred in intra-day equity trading. It confirms that only realised gains and losses are subject to taxation, with notional income from shares not being recognised under tax law. The advice given suggests that a tax audit may be advisable in cases of trading losses.

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Practising CA
8954 Points Posted on 21 December 2021
Notional income from shares is not recognized in tax law. only realized gains/losses are taxed. Advisable to do tax audit ( practical answer ).
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On 21 December 2021 at 00:17
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10 Points Posted on 21 December 2021
Thanks a lot sir. but notional income is taxable under which head
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On 21 December 2021 at 12:10

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