income from transaction in securities

This query is : Resolved

chetan (Querist)
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20 June 2009 i have intra day income and other than intra day income what is the treatment of these incomes while i filing my income tax return and what is the treatment of stt?

thank you in advance.

CA.BHARAT BHUSHAN

CA.BHARAT BHUSHAN (Expert)
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21 June 2009 For all intra day transactions you have to made separate calculations.It will always be your business income under Speculative Income.

In case of Non Intra Day transactions it is your choice to treat the transactions to business income or investments. It all depends upon the circumstances and your intention to invest money. If u treat it as business income then you can claim STT as business expenditure or if u treat it as investment then from Capital Gain no treatment of STT will be made. Even u cannot treat the STT as your cost of acquisition.