profit on sale of shares

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..... profit on sale of shares
Query (Issue) Started By: - satbir singh wahi Dated:- 20-12-2010 Last Reply Date:- 20-12-2010 Income Tax
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Income Tax
The assessee is engaged in sale/pu .....

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..... rchase of Land/property. During the year it has made investment in shares, profit on shares is shown as Short term and long term as the case may be.But A.O. wants to asesses STCG on shares as business .....

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..... income in view of circular 4 /2007 dt 15.06.2007. What is the correct position. Reply By rishi katiyar: The Reply: The income from the sale of the shares shall not be responsible for the STCG , bec .....

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..... ause assessee"s main cbjective is not to purchase or\and sale of securities as emphesise in the above text. Such income should be treated as " Income from others sourses " as i think Thanks
Disc .....

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..... ussion Forum - Knowledge Sharing .....

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