02 August 2009

Mayur Gosar:Nature of Income Intra Day Trading

Last year I have started share trading. I have done Intra-day trading and also sold shares after 15 days or 1 Month (i.e. Short term).

Will my whole income come under Business income or a part of income will be capital gain and part business Income.

My intension at the time of buying was never to  do business and not invest

Also please let me know Is basic exemption limit of Rs 1,50,000 available agst speculative income

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