Basavaraju.B.R.Gowda ( Student) (186 Points)
10 June 2010if we have income from(Capital Gain from Share trading) F & O Transactions, as well as cash segment ,how to consider both ?
cash transactions can be treated under capital gain(Short term or Long term), F & O under specualtive business income.
clear this dilemma please.
what is the tax audit limit in these cases (Applicability of Sec.44AB)
Sunil Liladhar Kotak
(Manager (F & A))
(2025 Points)
Replied 10 June 2010
Dear Mr. Govda,
U can file the Return of income considering the Income From F&O as business income & income from Cash segment as Long Term & Short Term but be careful regarding the Short Term Capital Gain as the holding period is to be resonably good to call the same as the Short Term Capital Gain.
sunil
.
CAclubindia
