Dhaval (Job) (794 Points)
26 June 2016I am a salaried person. In the FY 2015-16 I have done intra day transactions in shares on 2-3 occaisions. On these transactions I have made loss of rupees ten thousand.
My query is, which type of loss is this and where to show such loss in ITR as per the provisions of IT act. Thanks
SUSANTA KUMAR PATRA
(ARTICLE)
(40 Points)
Replied 26 June 2016
Harshit Kabra (INVESTOR)
(Student CA final)
(1113 Points)
Replied 27 June 2016
it should be speculative business income/loss and can be carried forwarded for upto 4 assessment years and should be only setoff against speculative business income only , furthere it it a speculative business income/loss as intraday trading is not a single day holding , if u hold such scrip/securities for atleast 1 day then it will be form part of STCG @ 15% ,otherwise it is treated as speculative business income/loss and should file return under ITR4
Hope u understood clearly.
regards
aakash.lodha
(Arcticle student)
(24 Points)
Replied 28 June 2016
Pankaj Goel
(In Service)
(28 Points)
Replied 01 July 2016
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