Sec. 44AB - For Intraday transactions
This query is : Resolved
30 September 2008
Whether one should recognize the Sec. 44AB limit for stock-market Intra-day transaction and how?
30 September 2008
30 September 2008
considering a trader in shares the same falls within the expression "Business" under sec 2(13) being engaged in the purchase and sale of shares which are marketable commodities and therefore goods. - CIT v/s Lallubhai Nagardas & Sons (1993) 114 CTR (Bom) 58.
Considering purchase and sale of shares, the sale would be treated as gross receipt separately irrespective of intra-day trade
Considering purchase and sale of shares, the sale would be treated as gross receipt separately irrespective of intra-day trade
03 October 2008
Plz. explain with illustration as i have heard that only difference of transaction is being considered as turnover for the purpose of Sec.44AB.
06 October 2008
I think that in intra - day transactions, no actual sale or purchase is made and accordingly transactions value can not be taken as turnover.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Manual Rectification through AO
- IT Return filed defective u/s 139 (9)
- Fixed Deposit Claim Relinquishment by the Nominee
- Defective Return - Tds on advance
- Income Type for interest from government bonds
- TCS ON SOFTWARE SALES
- Not a CA , can we prepare balance sheet
- Valuation of diamonds as on 01.04.2001
- What is meaning of merging of expenses or income in accounts
- Accounting treatment of write off sundry debtors
- Gstr 9 2023-24
- GSTR-9 HSN Summary and Credit Note without item
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- GST RCM not shown in GSTR-3B
- Bill from Dispatched from issue.
Trending Online Classes
-
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
Mr.Balamurugan Ranganathan15 November 2024
CAclubindia
