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profits arising out of intraday share transcations

Prajakta Prabhune (Article Assistant) (156 Points)

10 March 2008  
Profits arising out of Intraday share transcations (huge transactions in a  day)  whether it should be treated as a business income like speculation business or it should be treated as capital gains? Please send me reply as early as possible.

 4 Replies

CA Anuj Garg (Sr Manager) (482 Points)
Replied 10 March 2008

It will be Short term Capital Gain/Loss not business income/loss

CA. Gurdeep Singh Chawla (C A) (7080 Points)
Replied 10 March 2008

it should be treated as a business income like speculation business

CA Mohit Mohan (c.a. profession) (557 Points)
Replied 10 March 2008

speculation without any doubt..............
(Guest)
gurdeep is right . refer to section 43(5) of the income tax act for detail.

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