Speculation loss
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
02 September 2011
Dear Sirs,
Wanted to know if only intraday transactions are to b treated as speculative? What is treatment if the shares are purchased today and sold the following day? Are these to be treated as speculative as well until the delivery of shares in the demat account which then become short term?
My second question is that what is the treatment of F&O transactions. Are these all speculative?
Wanted to know if only intraday transactions are to b treated as speculative? What is treatment if the shares are purchased today and sold the following day? Are these to be treated as speculative as well until the delivery of shares in the demat account which then become short term?
My second question is that what is the treatment of F&O transactions. Are these all speculative?
U S Sharma
(Expert)
02 September 2011
Intraday = speculation
BTST = usually speculation but can be considered as short term capital gain/loss if both the contract notes are available on diff dates. (purchase on one date and sale on diff date for same security)
F&O = Business income
BTST = usually speculation but can be considered as short term capital gain/loss if both the contract notes are available on diff dates. (purchase on one date and sale on diff date for same security)
F&O = Business income
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
- Query on effect of registration of property
- GST on reimbursement of expenses
- Visiting card purchase
- Due date for filing return for the partner in partnership subjected to Tax Audit
- Goodwill transfer of deceased father’s firm – ICAI applying a 27.04.2026 cut-off to the 3 year limit
- Number of years as per AS amortisation of Goodwill
- Equity Share Sale and Purchase
- Wrong CMPo8 file
- Whether output tax is taken credit by purchaser
- Additional trade name
- Foriegn assets disclosure
- Classification of income of P Ltd company as business or profession
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
