I purchased 100 shares of a listed company A on date X. I sold these shares on date Y at a loss. On same date Y, since share price fell further, I purchased another 100 shares at a later time. (for clarity... bought 100 shares on 01.08.2014 at Rs. 500 apiece. Sold them on 07.08.24 at Rs. 480 apiece at 11 am and bought another 100 at Rs. 460 apiece at 2 PM). My broker has shown this trade as Intra day being a profit. Is the broker correct? My interpretation of Intra day is that sale can happen only if one has shares to sell....so sale on 07.08.24 should be against purchase made on 01.08.24. Clarification/advise in the matter is requested.
Menu
When a trade is considered Intra Day?
Replies (1)
To clarify, you're questioning your broker's classification of the trade as an intra-day profit.
Let's break down the transactions: Transactions
1. *Purchase 1*: 100 shares on 01.08.2014 at ₹500 apiece.
2. *Sale*: 100 shares on 07.08.2024 at ₹480 apiece (11 am).
3. *Purchase 2*: 100 shares on 07.08.2024 at ₹460 apiece (2 pm).
Recent Threads
- ITR 2 Processed and Refund Credited to Bank
- Freelancer or Salaried
- LTCG Tax & Indexation on Debt Mutual Funds Sol
- Section 45(5A) and 194IC with carry forward of tds
- Paid tax amount, CIN generated and challan downloa
- INTRADAY INCOME PRESUMPTIVE INCOME
- Clarification on Deemed Export Status for EOU-to-E
- LTCG Tax on property
- Short term gain in itr2, missing 111A
- Errors in ITR Filing: Minimum One Character Requir
Related Threads
CAclubindia
