Vinod Kapoor (Taxpayer) (112 Points)
20 July 2021Sir,
Can Intraday Profit/Loss be reported as Short Term Gain/Loss in ITR ?
Regards,
Vinod Kapoor
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 20 July 2021
Vinod Kapoor
(Taxpayer)
(112 Points)
Replied 20 July 2021
| Originally posted by : Vinod Kapoor | ||
 |
But many professionals differ? |  |
CMA Poornima Madhava
(CMA)
(13112 Points)
Replied 20 July 2021
CA. Sourav Sarkar
(Chartered Accountant )
(24583 Points)
Replied 21 July 2021
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 21 July 2021
veerendar singh
(tax consultant)
(3301 Points)
Replied 21 July 2021
CA Rashmi Gandhi
(Chartered Accountant)
(86323 Points)
Replied 21 July 2021
Sourav, why you are fooling others just for sake of some points on CAclub.
S A
(55 Points)
Replied 19 August 2021
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.
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Survey, Search and Seizure under Income Tax Act 1961
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