Had Short term capital gain from sale of equity shares of 10lks and i want to show it as business income, Can i file this under 44 AD? by offering 6% on turnover? my turnover is around 40lks which will result in 2.4lk income
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Shares Income as Capital gain or Business Income
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'Short Term Capital Gain' ,,,, PGBP !!! Is n't it contravential? .....
I read somewhere that sale of shares can be declared as business income instead of Capital gains but we need to continue declaring sale of shares as business income in future years. My doubt is if I declare it as business income, can I file this under 44AD and offer 6% or 8% income on turnover even though i had more income in real than presumptive income
Technically, AIS reports it as STCG/LTCG. So, even if you declare it under PGBP, there will be defective notice for mismatch of data.
One has to substantiate by number of transactions and frequency of traded shares . It does not go by values .
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