14 February 2010
i have 3 lacs income from shares 50000 from salary 1 lac int.receipt and 1.5 lac int.payment.turnover for share is 70lac. should i show my share income as stcg or business income.which is better way ?please advice me.
14 February 2010
As u hv mentioned in query that the turnover of the shares is Rs. 70 Lacs. It is apparent that you are doing business of the trading of shares. And your main source of income is income from trading of shares. You should show the income from trading of shares as business income to avoid any kind of litigation.
Otherwise you can show income from STCG (capital Gains).
CAclubindia
