Comment on Classifying Your Market Activity

Suryakant commented on 01 Oct 2016, 04:07 PM

Dear Sir,
Thank you so much for excellent and crisp article, I have one question, I am salaried employee and primary income is salary.
I invest for short term and long term delivery based stocks.
(1) I bought 100 ITC may 2016 , and 100 FIEM shares in June 2016 and they are in my demat account .
(2) On 29th Sept ( Surgical strike by India) I sell 100 ITC and 100 FIEM shares , and after that ( on same day ) market goes down and I bou those shares back again same day.

This is treated as day trading on 29th Sept ? or I shall calculate profit as Profit = Purchase price ( as in May/Jine ) – Sale Price on 29th Sept.
and new holding starting on 29th Sept. And these being LTCG / STCG.

Kindly clarify.
Thanks for your time , apreciate it.

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