Sujith N (Student) (42 Points)
14 October 2016Whether dealing in the derivative segment by the proprieter of a business be added to his business turnover or whether dat has to be shown as speculation income? If business income what will be his turnover normal business turnover + value of dealing in derivatives or normal turnover + net derivative position?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(160960 Points)
Replied 31 October 2016
Derivative trading on recognized exchange is treated as non-speculative business transactions. Turn over will be sum of net derivative positions (negative also treated as positive) and turn over of all other business/es.
CAclubindia
