PURCHASE & SALES IN SHARES.

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

19 May 2011 COMPANY IS DOING PURCHASE AND SELLING IN SHARES. COMPANY PURCHASE AND SALE BILL ARE APPROX. 300 BILLS(BOTH PURCHASE AND SALE)
THEN IT IS KNOW AS INVESTMENT ACTIVITY OR TRADING IN SHARE ACTIVITY?????

Aditya Maheshwari

Aditya Maheshwari (Expert)
Follow

19 May 2011 First of all there are only 250 - 260 settlements in year. So there cannot be 300 bills.

And looking into the frequency it is business income.

Querist : Anonymous

Querist : Anonymous (Querist)

29 May 2011 so it is consider as besiness income or investment becos if it is consider as business then it is taxable & if it is consider as ivst then ltcg u/s 10(38) exampt
& stcl tax @15%.

Upgrade to CAclubindia Pro. Subscribe Now!

Aditya Maheshwari

Aditya Maheshwari (Expert)
Follow

30 May 2011 But looking in the frequency of trade it will be business income only.

Message likes : 1 times