Hi
I have demat account and trading in shares -
I have indulged in both 'intraday transaction' and 'delivery based trading'. At the year end I have closing stock of sahres held.
The volume of intraday transaction was comparatively lower than delivery based trading.
My queiry is
- whether in this situation the taxman will treat it as 'speculative transaction' u/s 43(5) or normal business.
- if they consider it as speculative then can I put forth any arguements, as I have incurred loss and want to set it off against other taxaxble income.
Warm regards
CAclubindia
