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intra day share profit or loss - treatment

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(Querist)
23 July 2009 hi
kindly help me how the intra day share profit (Speculation share profit) treated
and also loss

thank you
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CA.Tarun Maheshwari

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CA.Tarun Maheshwari (Expert)
23 July 2009 It is to be treated as Business Income/Loss.
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parimala

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parimala (Querist)
24 July 2009 is it irrespective of the quantum of activity?

taxable as speculation profit/loss under the head Business Income/loss

and also carry forward and set off as applicable to normal Business loss or as applicable to speculation loss?

please help

thank you
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
24 July 2009 It will be treated as speculative loss
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parimala

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parimala (Querist)
24 July 2009
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parimala

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parimala (Querist)
24 July 2009 means chapter IV - D is applicable not IV E

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