Derivative share taxation ? : Respected Persons & CA : Kindly clarify the points. 1) Can govt.employee trade /
invest in derivative stock market since it's a business income ? if I trade daily 1 or 2 transaction .. can it be the ShortTermCapitalGain ? or it's possible to separate STCG & business income in derivatives transactions ? If I have own house, what are the limits for deductions / depression from the business income for house repair, purchasing furniture, gift to relatives,computer etc.? same is appicable for STCG also ? is it correct that tax audit is required if share trasaction turnover > 40 lackhs ? when the 'clubbing income ' will apply ? ,for giving the gift or loan to my close, non earning relatives for derivative investment ? if yes then how to avoid it ? Regards !
invest in derivative stock market since it's a business income ? if I trade daily 1 or 2 transaction .. can it be the ShortTermCapitalGain ? or it's possible to separate STCG & business income in derivatives transactions ? If I have own house, what are the limits for deductions / depression from the business income for house repair, purchasing furniture, gift to relatives,computer etc.? same is appicable for STCG also ? is it correct that tax audit is required if share trasaction turnover > 40 lackhs ? when the 'clubbing income ' will apply ? ,for giving the gift or loan to my close, non earning relatives for derivative investment ? if yes then how to avoid it ? Regards !
