Dear All,
My Client has Income From Arbitrage (Stock Market), So whether it is to be taken as speculative income or not?
In Which Head does it fall?
Please assist me in detail.
(Arbitrage is the transaction of buying some scriptts in NSC and selling in BSC or vice versa)
My client does all the transactions on his ID i.e. on his name, STT and other taxes plus brokerage, all are paid.
so which provisions are applicable to this? please give your suggessions in detail.. please..
Normally under the head speculation business, unless derivatives are involved.
Instead of thinking as to which head the income will fall, eliminate other heads and then see what is left.
U/s 43(5) it will be treated as normal business transaction.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
CA Final
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Naveen Fintech Pvt Ltd
Kolkata
CA Inter
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