Intraday

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

30 December 2010 How to calculate Income in case of Intraday??
Whether it will b taxable as Business or capita; Income or both??

Aditya Maheshwari

Aditya Maheshwari (Expert)
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30 December 2010 It would be speculation business income./

Nirpendra Singh

Nirpendra Singh (Expert)
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30 December 2010 As per Circulation( 2009-10) issued by the CBDT no Share Trading Transaction would be trearted as a Speculative transaction.
It would be a short term capital Gain.

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Aditya Maheshwari

Aditya Maheshwari (Expert)
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30 December 2010 Please post a copy of that circular also for reference or quote its number.

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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30 December 2010 I also do not know about any such Circular, will be very thankful Nirpendra if you can provide the reference "for the benefit of all on this site".

Querist : Anonymous

Querist : Anonymous (Querist)

31 December 2010 GIve Circular No??

Aditya Maheshwari

Aditya Maheshwari (Expert)
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31 December 2010 There is no such circular and i think Nirpendra has answered without any supportings or basis with him for his reply. This is no such circular and it is speculative business income only.

Querist : Anonymous

Querist : Anonymous (Querist)

01 January 2011 can it never be treated as business income???

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Aditya Maheshwari

Aditya Maheshwari (Expert)
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01 January 2011 It is speculative business income