Is there is any difference between day trading(Speculation) and trading in derivatives(Business) for Income Tax Act, 1961?. Is loss on account of day trading (Securities transaction tax paid) of earlier years can be set off against profit from derivatives during this year? (there is an amendment to sec. 43 of ITA, 1961 w.e.f. 1.4.2006)
This is disputable one. There is lot of order of ITD which contraversies each other about that matter. but it is true that derivative is stcg or bussiness income but not treated as speculative income so u can not setoff speculation loss against derivavtive income.
Is day trading in shares amounts to speculation or business?
T R SOOD & CO
New Delhi
CA Inter
View Details
Aggarwal Sarawagi and Co
New Delhi
CA
View Details
Vardhaman Group of India
Pimpri Chinchwad
CA Inter
View Details
Shyam Joshi & Associates
Pune
B.Com
View Details
YOGESH KAPOOR AND ASSOCIATES
New Delhi
B.Com
View Details
CAclubindia
