Speculation Income ???

do you know about speculation business ??? 

 

intra day share trading activity called as speculation transaction or short term capital gain ??? 

 

reply me????????

Replies (6)

Dear Vijay,

Intra day transaction will be treated as "Speculation"

It is a speculation business ..........come under the head Income from B & P not in Capital gain

 

 

 

Regards

Madhusudan

Ya its speculation profit and taxable under PGBP not CG.

 

A Speculative transaction is defined under Section 43(5) to mean a transaction in which a contract

for purchase or sale of a commodity including stocks or shares is periodically or ultimately settled

otherwise than by actual delivery or transfer of the commodity or scrip

Dear Vijay,

 

Agree with the members.

 

However, in case of Auction (failure to give delivery or failure to make payment), there are possibilities to treat such profits/losses as Capital Gains/Losses.

 

Also in case contract is entered OTC and terminate by reason of non performance of duties on part of seller and any claim of damage received/receivable by the Buyer shall be chargeble under head Capital Gains.

 

Regards

Juzer

so

it will charged with special rate i.e @ 30%

or same as added in Business Income or 15% if STT Paid

 

Regards

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