14 July 2007
sir, i want to know investment in shares and there will be a no. of transaction during the year. so now we want to know that in which head my income from sale of shares are taxablei.e. business income or capital gain. and also tell me that what is the base of difference between investment or business.
14 July 2007
Only criteria is who holds the shares, if you buy and sell as a sharehol;der ..it is a capital gain else professional/business income. Further based on the frequency it is categorised as "Speculation/Normal"
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