I am trading in F&O. Hence profit or loss be considered as non speculative business income. Is it right ?
Secondly, intraday trade in equity cash market is speculative business income of losses. Is it right ?
Thirdly, I do always applied for all the IPO and if share alloted I just sell it @ open price on listing day itself because my intention is for listing gain only.
Now I request to taxation export to please let me know in which the listing gain/loss be classified ?speculative business income or short term capital gain ?