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Treatment of income from equity market

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Querist : Anonymous

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Querist : Anonymous (Querist)
05 February 2012 I deal in shares and have many transactions and I treat this income as Business Income in my books account but as per IT Act,1961 it is capital gain.

So, can I show this income as Business Income in IT return?

Please Help.
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CS, Deepak Pratap Singh

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CS, Deepak Pratap Singh (Expert)
06 February 2012 Dear Friend , if STT is applicable on your transactions then it will not be considered as Capital gain.

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