RAJ KUMAR (FINANCE MANAGER) (1393 Points)
23 September 2010HELLO FRIENDS, CAN ANYBODY TELL ME IF A PERSON DOES THE SHARE TRADING BUSINESS.
HE IS NOT BROKER BUT THE PURCHASE AND SALES OF THE SHARES IS HIS REGULAR ACTIVITY
IS THIS IS TREATED AS HIS BUSINESS AND TRADING AND PROFIT AND LOSS A/C IS TO BE PREPARED OR NOT.
WHETHER IT IS TREATED AS SPEPULATION BUSINESS OR NORMAL BUSINESS?
WHAT ARE ITS TAX IMPLICATIONS.
PLS. HELP ME.
CA.G.Muguntha Narayanan
(Internal Auditor at TVS Motors)
(2195 Points)
Replied 23 September 2010
Dear Raj Kumar,
It is to be treated as business income and tax computer under Profits from Business or profession
vkbothra
(Learning )
(690 Points)
Replied 23 September 2010
Person who is making daily transaction, income will be treated as speculation profit/loss, ITR-4
person who is purchasing and saleing another day, income will be treated as STCG. tax @ 15% - ITR-2 or ITR-4
RAJ KUMAR
(FINANCE MANAGER)
(1393 Points)
Replied 23 September 2010
BUT WHETHER IT IS NORMAL BUSINESS INCOME OR SPECULATION BUSINESS INCOME.
vkbothra
(Learning )
(690 Points)
Replied 23 September 2010
Dear Read my above reply, in thats its clearly saying, if he/she in daily trading than the income will be. Speculation Profit.
;)
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
CAclubindia
