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Regarding speculation busines

Venu Gowda (55 Points)

12 October 2021  
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

 6 Replies

Dhirajlal Rambhia (SEO Sai Gr. Hosp.) (108161 Points)
Replied 12 October 2021

Intraday business is speculative business.

Shares trading with delivery in & out within few days is non speculative business.

1 Like

CA. Umesh kumar (ca.umesh11@gmail.com) (1394 Points)
Replied 12 October 2021

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%

1 Like

Sourav (Student) (23887 Points)
Replied 12 October 2021

Agree with above comment
1 Like

Venu Gowda (55 Points)
Replied 13 October 2021

Tq u soo much sir
1 Like

veerendar singh (tax consultant) (2818 Points)
Replied 13 October 2021

If thereis loss in intraday business then audit will be compulsory

Sourav (Student) (23887 Points)
Replied 01 November 2021

Your welcome

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