I am trading equities from last 6 months. From quicko ,its is seen that only Intraday and F&O are treated as “business income” from trading.
all equity delivery trades are considered as STCG by default. If a trader does not do intraday ,
he only does equity delivery trading ,then there will be STCG tax at 15% for income over 2.5 lakh?
is it possible to consider all delivery based short term trading income as “Business income” ?
in that case ,if trading is only business income and income above 2.5 lakhs will be taxed at 5% (applicable IT rates)? looks better (Quicko seem to consider all equity delivery trades as STCG??)
There can be significant equity trades …4 to 5 trades in a month sometimes.will IT department
question the treatment of this profit as Short term gains?