Regarding shares and securities

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

30 July 2012 plz advice me about taxation about shares & securities and how will we reconise whether shares are held for investmet purpose or stock in trade ?

if shares purchased are sold at next day whether it is covered in intraday transaction ?

CA Lokesh Pokharna

CA Lokesh Pokharna (Expert)
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30 July 2012 investor advices to keep two accounts for trading & investment

this trade known as short term not as intraday

Guest

Guest (Expert)

30 July 2012 Intraday transaction was those when shares are bought and sold on the same day.

Regarding treating shares as stock or investment, we have to maintain 2 separate DP account for holding shares as stock and investment for the purpose of demarcation.

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Querist : Anonymous

Querist : Anonymous (Querist)

31 July 2012 if a person mantain single account for both transation then how is it treated ?

whether is it considered as business income/loss or speculation income/loss

Guest

Guest (Expert)

31 July 2012 It depends upon the frequency of transactions, other factors like other heads of income of asseessee etc.