INCOME TAX
This query is : Resolved
24 December 2007
HOW WILL BE A PERSON INVOLVE IN DAILY TRADING IN SHARES TAXED ?
WHETHER HE IS TAXED AS LTCG OR STCG OR HIS PROFIT WILL BE TAXED AS INCOME FROM BUSINESS OR PROFESSION ?
AND WHY ? PLEASE SPECIFY THE REASON.
THANK YOU.
WHETHER HE IS TAXED AS LTCG OR STCG OR HIS PROFIT WILL BE TAXED AS INCOME FROM BUSINESS OR PROFESSION ?
AND WHY ? PLEASE SPECIFY THE REASON.
THANK YOU.
25 December 2007
I think purchase and sell of shares in daily trading will fall under business.
25 December 2007
25 December 2007
In case of a daily trader , we assume that he is not taking delivery of the scrips. (Margin Trading). In that case , the same shall be assessed as Speculation Business Income.
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