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Income Tax - Highlights / Catch Notes

Home Highlights February 2021 Year 2021 This

Characterization of income - Trading in shares - d 'capital ...

Income Tax

February 8, 2021

Characterization of income - Trading in shares - d 'capital gains' or 'business income' - While maintenance of capital and trading transactions as a separate category in books can be insisted upon in practice to ascertain the underlying intentions, the maintenance of separate D-mat account separately is not necessarily in conformity with usage of share trade and thus cannot be insisted upon. - AT

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