Comment on Classifying Your Market Activity

Arun commented on 26 Jul 2016, 04:21 PM

Dear Nithin
Suppose I do 500 trades a year including these (Equity intraday, equity delivery and F&O). I don’t have any other source of income. Now if I come under 30% tax slab, and acc. to the new CBDT circular…
1.) I can show this income either as ‘Business’ or ‘STCG’…Right?
2.) And does it mean that I can not change my instance (whether Business or STCG) ever in future once taken? Or can we change this stance after 3-4 years?
3.) What instance would you prefer should I take?
4.) Whatever instance I choose…my LTCG is not disturbed (i.e. I have to pay no tax on this)… Right?

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