07 December 2010
Sir, Can frequent buying and selling of shares be treated as business activity and not as short term capital gain ? Also can there be business of dealing in F & O and commodities ? Pls guide. Thanks in advance.
07 December 2010
Yes it can be treated. Refer circular no. 4/2007 for full details.
Yes there can be business of dealing in F & O and commodities. F & O in shares would be normal business income and F & O IN commodities would be speculative business income.