Taxability of Share Market Transactions

More documents

Recommendations

Info

Treatment of speculation loss Section 73 • Loss from speculation business can be set off against profits & gains of another speculation business • Unabsorbed loss can be carried forward for maximum upto 4 AY succeeding the year of loss
Speculation business • Explanation 2 to Section 28: : Where speculative transaction carried on by an assessee are of such a nature as to constitute a business, the business shall be deemed to be distinct and separate from any other business. • Share broker carrying out self trading of the nature of speculative transactions? • Manufacturing company carrying on trading of shares of other companies?
Page 1 and 2: Taxability of Capital Market transa
Page 3 and 4: Statutory provisions • Business
Page 5 and 6: Effect of Section 88E • Scheme be
Page 7 and 8: Speculative transactions • Sectio
Page 9: Speculative transactions Proviso (d
Page 13 and 14: Explanation to section 73 Implicati
Page 15 and 16: Long term capital asset • Held fo
Page 17 and 18: Equity shares Section 10(38) • Lo
Page 19 and 20: Rate of tax on LTCG Section 112 •
Page 21 and 22: Cost of acquisition of shares Secti
Page 23 and 24: Loss in dividend stripping transact
Page 25 and 26: Implication • 1000 Shares purchas
Page 27 and 28: Capital Gains/ Business Income Suni
Page 29 and 30: Capital Asset Capital asset means p
Page 31 and 32: Authority for Advanced Rulings •
Page 33 and 34: Judicial precedents • Raja Bahadu
Page 35 and 36: Draft Instructions dt 16/5/2006 •
Page 37: Final outcome • Circular does not
Page 40: Transfer • Conversion of preferen

Taxability of Share Market Transactions

Create successful ePaper yourself

Delete template?

Save as template?