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Treatment of loss from intraday trading

Others 274 views 3 replies

anuj agarwal

29 Points Posted on 17 March 2021

in case of intraday trading
1,00,000 Shares bought at 700 Each
and subsequently Sold for 600 Each on Same day
Will it be a speculative Business
what will be the turnover
Is their any requirement for audit

Replies (3)

SUSHANT BIDAYE

721 Points Posted on 17 March 2021

It will be speculation business and turnover will be sales value i.e.rs. 7 crores.

in my opinion.

Kapadia Pravin

17264 Points Posted on 18 March 2021

It is speculation loss. Turnover is differential amount that is 1 cr

SUSHANT BIDAYE

721 Points Posted on 18 March 2021

Pravin sir, is there a circular/cbdt clarification for turnover as differetial amount ?

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