do you know about speculation business ???
intra day share trading activity called as speculation transaction or short term capital gain ???
reply me????????
Vijay Parmar (student) (261 Points)
08 July 2010do you know about speculation business ???
intra day share trading activity called as speculation transaction or short term capital gain ???
reply me????????
Amir
(Learner)
(4016 Points)
Replied 08 July 2010
Dear Vijay,
Intra day transaction will be treated as "Speculation"
Madhusudan Kabra
(knowledge seeker)
(1779 Points)
Replied 08 July 2010
It is a speculation business ..........come under the head Income from B & P not in Capital gain
Regards
Madhusudan
CA Parag Shukla
(Practicing Chartered Accountant)
(153 Points)
Replied 08 July 2010
Ya its speculation profit and taxable under PGBP not CG.
RAKESH
(Almost CA)
(2199 Points)
Replied 08 July 2010
A Speculative transaction is defined under Section 43(5) to mean a transaction in which a contract
for purchase or sale of a commodity including stocks or shares is periodically or ultimately settled
otherwise than by actual delivery or transfer of the commodity or scrip
Juzer Sadikot
(CA - innovative solutions for Imports and Exports)
(1309 Points)
Replied 08 July 2010
Dear Vijay,
Agree with the members.
However, in case of Auction (failure to give delivery or failure to make payment), there are possibilities to treat such profits/losses as Capital Gains/Losses.
Also in case contract is entered OTC and terminate by reason of non performance of duties on part of seller and any claim of damage received/receivable by the Buyer shall be chargeble under head Capital Gains.
Regards
Juzer
Nitin Grover
(CS)
(1228 Points)
Replied 09 July 2010
so
it will charged with special rate i.e @ 30%
or same as added in Business Income or 15% if STT Paid
Regards
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