Is this right to show purchase a nifty stock in purchase and purchase share of a company in investment?
tell me.................................................please
1 Replies
CA. Pratik Kumar Dokania
(Professional)
(63 Points)
Replied 24 December 2012
Yes You can show lyk this..
Nifty: When You show it as stock it will be Chargeable to Tax under PGBP income.
Shares of a Company: You can show it as Investment. It will be chargeable to tax as CG income.
Further if the volume of purchase and sale is high then only it is advisable to show the scriptt as stock in Business. Otherwise A.O. may take ur File for Scruitny.
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