{"id":38146,"date":"2023-12-12T22:32:43","date_gmt":"2023-12-12T17:02:43","guid":{"rendered":"https:\/\/itatonline.org\/digest\/?post_type=qa&#038;p=38146"},"modified":"2023-12-28T15:38:39","modified_gmt":"2023-12-28T10:08:39","slug":"intra-day-trading-in-equity-trading-in-futures-options","status":"publish","type":"qa","link":"https:\/\/itatonline.org\/digest\/qa\/intra-day-trading-in-equity-trading-in-futures-options\/","title":{"rendered":"Intra Day Trading in Equity &amp; Trading in Futures &amp; options"},"content":{"rendered":"<p><strong>In one of the Assessment Proceedings for the Assessment Year 2018-19, The Faceless Assessment Unit has considered Income from Intraday Trading in Equity and Income from Trading in Futures &amp; options as Short Term Capital Gain. <\/strong><\/p>\n<p><strong>The Assessee has considered Income from Intraday Trading in Equity as Speculative Business Income and Income from Trading in Futures &amp; options as Normal Business Income which in my opinion is correct. <\/strong><\/p>\n<p><strong>Whether the below noted contention of the Assessment Unit is correct? <\/strong><\/p>\n<p><strong>Contention of the Assessment Unit: &#8220;Since the assessee is an Employee of a PSU, the Profit from Intraday trading in Equity and Income from Trading in Futures &amp; options is considered as Short Term Capital Gain and hence the same is calculated accordingly&#8221;<\/strong><\/p>\n<p>&nbsp;<\/p>\n","protected":false},"comment_status":"open","ping_status":"closed","template":"","qa_expert":[22],"qa_category":[23],"qa_tag":[463,1115],"class_list":["post-38146","qa","type-qa","status-publish","hentry","qa_expert-advocate-neelam-jadhav","qa_category-income-tax","qa_tag-fo","qa_tag-intraday-trading"],"acf":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa\/38146","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/qa"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=38146"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=38146"}],"wp:term":[{"taxonomy":"qa_expert","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_expert?post=38146"},{"taxonomy":"qa_category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_category?post=38146"},{"taxonomy":"qa_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/qa_tag?post=38146"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}