Hello Diosys,
I'd like to state a couple of points. Correct me if I'm wrong.
1) Treating trading income under the head "Income from business" allows you to deduct trading related expenses such as purchase of books, depreciation on software purchased etc which isn't applicable to those who treat the income as capital gains.
2) Securities transaction tax rebate under sec.88 E is applicable for those who treat trading as a business income. The rebate is calculated as
(Average rate of income tax * Income from trading of shares) (or) (STT Paid) whichever is less. This benefit again cannot be made use of by those who treat trading income as CG.
Sincerely yours.
I'd like to state a couple of points. Correct me if I'm wrong.
1) Treating trading income under the head "Income from business" allows you to deduct trading related expenses such as purchase of books, depreciation on software purchased etc which isn't applicable to those who treat the income as capital gains.
2) Securities transaction tax rebate under sec.88 E is applicable for those who treat trading as a business income. The rebate is calculated as
(Average rate of income tax * Income from trading of shares) (or) (STT Paid) whichever is less. This benefit again cannot be made use of by those who treat trading income as CG.
Sincerely yours.