my friends investing in equity shares
in more than 10 company,
some shares sold with in oneday and some shares sold after one day
he have profit of 20k in stcg ( more than 2 day) loss in speculation business ( intra day sale)
now this income is comes under which head, business or cg
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Regarding speculation busines
Replies (6)
Intraday business is speculative business.
Shares trading with delivery in & out within few days is non speculative business.
Loss/Profit from intra day trading is treated as speculative business profit/loss (Taxable as per slab rate). Profit from shares sold after one day is short term capital gain and taxable @ 15%
Agree with above comment
Tq u soo much sir
If thereis loss in intraday business then audit will be compulsory
Your welcome
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