Investment company

Dear CCI Members,

There is a client of us which is an investment company  which deals in purchase and sale of shares of thier own Now my question is previous auditor has computed tax under business income,is he correct in doing that because actually itshould be calulated under capital gain.....Kindly some reply me with supported provisions/case laws

Replies (1)

Dear Prashant , the auditor is right in your client's case. Because if a person is continuously engaged in buying and selling of any capital asset than the capital asset becomes stock in trade for the purpose of taxation and the income is chargeable under the head business and profession not under capital gains.

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
04 September 2026
CA inter Or ca finalist

A Jaiswal and company

Lucknow

CA Final

View Details
Company
ARTICLESHIP 16 September 2026
CA Article Trainee

SR BAGAI & Co.

New Delhi

CA Inter

View Details
Company
08 September 2026
Semi-Qualified Assitant

Subrahmanyam & Sivudu CA Firm

Hyderabad

CA Inter

View Details
Company
09 September 2026
SENIOR AUDITOR & ACCOUNTS MANAGER

Anupam Parashar & Co.

Ghaziabad

CA Final

View Details
Company
17 September 2026
Chartered Accountant

Dass Gupta & Associates

Gurgaon

CA

View Details
Company
Featured 21 September 2026
Consultant - Reporting

Finrep Advisors LLP

Mumbai

CA

View Details
Company
28 August 2026
Assistant Manager

NRS AND ASSOCIATES

Kozhikode

CA Inter

View Details
Company
29 August 2026
Chartered Accountant

Velionit Consulting PVT LTd

Mumbai

CA

View Details