is there any specific speculation business as per income tax act ... i got confused which business come in speculation or which not ..... thanx in advance ...
Bhav Bhuti Sharma (Towards Professionalism ) (823 Points)
03 September 2010is there any specific speculation business as per income tax act ... i got confused which business come in speculation or which not ..... thanx in advance ...
Ashish M
(Chartered Accountant)
(2731 Points)
Replied 03 September 2010
Speculation business means business of entering into trnasactions of purchase, sale of commodity includeing stock and shares without actual delivery.
So the main ingredient of speculative business is it contains transactions without having actual delivery.
Hence intra-day trading shares is one such speculatinve business.
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