short term gain shares

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..... short term gain shares
Query (Issue) Started By: - satbir singh wahi Dated:- 25-11-2010 Last Reply Date:- 27-11-2010 Income Tax
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Income Tax
there is short term gain on sale o .....

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..... f shares after stt. Whether interest paid on purchase of shares is deductible exp, as cost of acquisition. Reply By CA Rachit Agarwal: The Reply: Interest paid for the purchase of securities is deduc .....

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..... tible expenditure. Interest Cost can be added to the cost of acquisitions. Refer Seciton 48(ii) Reply By DEV KUMAR KOTHARI: The Reply: Investment activity is a business being adventure in nature of .....

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..... commerce ( and not trade). So income should be computed under applicable heads- business, other sources and capital gains. Cost of carrying investments like interest, DP charges, insurance, staff exp .....

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..... enses to maintain and look after investment activity should go under head business, recurring incomes like hedging gains, security commission ( if shares are provided as security to third party), secu .....

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..... rity lending income will fall under business, dividend u/h OS, and income on transfer of shares u/h CG.
Discussion Forum - Knowledge Sharing .....

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