RE:income tax computed
by Ravi Shankar S. on Jul 15, 2007 04:16 PM Permalink
If the aggregate of the gains and losses results in a positive income, the same will have to be returned as Business income and you have to pay tax on the same at regular rates. The amount paid as STT can be claimed as a rebate u/s 88E. Income from day-trading cannot be capital gains.
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