Chandrashekar (Chartered Accountant) (32 Points)
22 November 2010Please let me know, whether there is any case law justifying that, Intraday Trading in Shares or in Futures & Options is of speculative nature and be treated as Income from speculative business.
If yes, then whether making 1 or any negligible amount of transaction in a year be treated as speculative or capital gain?
CA Kartik Sharma
(CA)
(55 Points)
Replied 23 December 2010
Intraday trading or dealing in future and options is not a speculative business. Its is now treted as regular business activity. Alternatively you can treat it as cap gain.
U S Sharma
(glidor@gmail.com)
(21063 Points)
Replied 23 December 2010
| Originally posted by : chandrashekar | ||
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Please let me know, whether there is any case law justifying that, Intraday Trading in Shares or in Futures & Options is of speculative nature and be treated as Income from speculative business. If yes, then whether making 1 or any negligible amount of transaction in a year be treated as speculative or capital gain? |
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yes its speculation , coz delivery in demat account is not effected, and to claim the capital gains, delivery through demat is mandatory.
CAclubindia
