Speculation income
This query is : Open
17 April 2012
1. Whether Intraday is speculative income.
2. If yes then whether it is included in minimum exemption limit of 1,80,000 in case of Individual/HUF.
3. Intraday transaction is taxable at which rate i.e. normal or flat 30% because my s/w is calculating intraday profit at normal rate?
2. If yes then whether it is included in minimum exemption limit of 1,80,000 in case of Individual/HUF.
3. Intraday transaction is taxable at which rate i.e. normal or flat 30% because my s/w is calculating intraday profit at normal rate?
18 April 2012
Intra day income is not speculative income since as per definition of speculative transaction it does not include transactions in shares.
Intraday transactions are taxable at normal rate only.
CA.Nilang A Dalal
09374821453
nil_dalal@yahoo.co.in
Intraday transactions are taxable at normal rate only.
CA.Nilang A Dalal
09374821453
nil_dalal@yahoo.co.in
19 April 2012
Dear Sir In definition of 43(5) it is not shares it is derivative so please clarify. I mean to say if any person does not have any holding in stocks or shares then what. the intention is to earn profit in a single day
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