What is tax treatment for future & stock options whether the profit earned from it is speculative or non-speculative and whats the difference between speculative and non-speculative profit
Please help
regards sneha
Dhawal Mohnot
(Practicing)
(449 Points)
Replied 01 July 2010
Guidance note on Tax audit terms Future, options and derivative trading as Income from Business or profession they cannot be treated as capital gain .
Share/Commodity is a speculative business. Any other business apart from these is called non speculative.
hyponkshe
(chartered accountants)
(73 Points)
Replied 01 July 2010
this is purely business profit or loss from speculative activity
CAclubindia
