27 August 2008
a assessee is retired govt. employee,doing regular trading through broking agency (daily & intraday).How to treat it,ie > as an investment or a saperate business???? > surplus to be treated as SHORT TERM capital gain or PGBP??????
28 August 2008
Intrday trading in shares, i.e, Jobbing is speculative. However, the trading in F&O segment of a stock exchange is non-speculative. Also, profit or loss from transactions not involving deliveries will be treated as a profit or loss from business or profession. Moreover, delivery transactions in case of active trading involving a large number of transactions may also be treated as an adventure in the nature of trade. In case there is no active trading then the trades may be treated as investments and gain or loss as Capital Gain or Loss.
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