Sir,
Can Intraday Profit/Loss be reported as Short Term Gain/Loss in ITR ?
Regards,
Vinod Kapoor
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Can Intraday Profit/Loss be reported as Short Term Gain/Loss in ITR-2 ?
Replies (11)
Yes it will be treated as capital gains
But many professionals different.
| Originally posted by : Vinod Kapoor | ||
 |
But many professionals differ? |  |
Profit/loss from intra-day trading is regarded as speculative business income. Treating it as a capital gain would be inappropriate I think.
Yes it will be treated as capital gains
Intraday profit/loss to be treated as speculative business income and same is to be reported in ITR-3.
Agree
Intraday activity cannot be treated as capital gains.
it is deemed to be speculation business.
it is deemed to be speculation business.
Sourav, why you are fooling others just for sake of some points on CAclub.
Speculative business income.
Intraday trading is "speculative business" and the gain/loss is considered speculative gain/loss. It cannot be included in capital gain/loss.
The tax liability is higher but it is much easier to fill the ITR for speculative income. No need to show individual transactions.
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