HELLO 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.
Dear Raj Kumar,
It is to be treated as business income and tax computer under Profits from Business or profession
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
BUT WHETHER IT IS NORMAL BUSINESS INCOME OR SPECULATION BUSINESS INCOME.
Dear Read my above reply, in thats its clearly saying, if he/she in daily trading than the income will be. Speculation Profit.
;)
CAclubindia
