Shares when classified as Business Income..Urgent Sir!!!
This query is : Resolved
09 August 2010
Dear Experts,
When we classify the dealings of the shares as Business Income, will we be able to claim exemption u/s 10(38) in case of long term holding of shares?
Please reply me...
Thank you,
Rajesh.
When we classify the dealings of the shares as Business Income, will we be able to claim exemption u/s 10(38) in case of long term holding of shares?
Please reply me...
Thank you,
Rajesh.
09 August 2010
No. Since you treat the income as Business Income you will not be able to claim the exemption u/s 10(38) in case of Long term holding of shares and this income will also be treated and taxed as Business Income.
09 August 2010
No, dealing of the shares as business income, not be able to claim exemption u/s 10(38) beacuse it is on long term capital gain, while you are treating it business.
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
- Is this income indian or foreign income?
- ITC temporary reversal and reclaim
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- REGARDING 25 AS DATE OF PAYMENT AND DATE OF BOOKING
- GST ON EXPORT COMMISSION
- Should I report my US salary for January, February, March in Schedule FA?
- RCM INVOICING FROM NOV-2024
- GST input on Mobile Handset
- Material and freight in same invoice
- TDS under section 194J inclusive of reimbursement of expenses
- TDS on Material and Labour in same invoice
- Should I be worried about and rectify reporting Jan,Feb ,March 2024 foreign salary in schedule FA?
- BUYING PROPERTY COULD NOT FILE 26QB
- Gst input for FY 23-24
- Regarding Waiver of Interest levied u/s 50 of PGST/CGST Act
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
Trending Online Classes
CAclubindia
