comments invited to distinguish between stock traders, investors
New Delhi, May 17 (UNI) The Central Board of Direct Taxex (CBDT) has invited comments by May 25 on the proposed instructions to distinguish between stock brokers and investors.
CBDT, in its August 1989 instructions, had laid down certain tests to distinguish between shares held as stock-in trade and shares held as investment.
It now proposes to issue supplementary instructions to provide further guidelines for determining whether a person is a trader or an investor in stocks.
Before issuing the instructions, it has invited comments from all stakeholders.
The draft instructions and the addresses to which the comments can be sent are available on the income tax department website, incometaxindia.gov.in, an official release said today.
UNI YJ VD VC1825