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Intraday gain/loss on buy/sale of shares
how to treat the gain/loss arising from trading of shares intraday for a pensioner who is drawing pension and interest on bank deposit.
Replies (5)
Quick Summary
Dear sir,
Intraday trading is without any delivery which means it's a speculation income. It has to be taxed under the head business and profession.
Tax will be payable based on the threshold limit for individual.
If you are satisfied, kindly drop email to capravin87 @ gmail.com
Perfectly said by Pravin. Further, losses of such speculation business can set off only against the speculation incomes and the loss can be carried forward to 4 assessment years only.
And you have to file itr 4 for business income
But to show losses u have to audit Beccoz income is less than 6per
Thanks for your reply. It seems the reply is incomplete. If you give in detail I will be able to understand. Moreover, I would like to mention that I had incurred a loss of a ₹6000 only in the last fin.yr. In that cade, is it necessary to audit my account. Expecting your reply with thanks.
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