Capital gains
This query is : Resolved
09 June 2012
Sir,
i want to know about Capital Gains.
Assessee having business in commodity market he has trading once or twice in weeks and earning the profits. Further, he has trading in commodity market (intraday and cash). Sir let me know that which is his business income and speculation income and can he adjust this profit against his other business loss.
What is his income tax structure ?
WITH REGARDS
RUPESH
i want to know about Capital Gains.
Assessee having business in commodity market he has trading once or twice in weeks and earning the profits. Further, he has trading in commodity market (intraday and cash). Sir let me know that which is his business income and speculation income and can he adjust this profit against his other business loss.
What is his income tax structure ?
WITH REGARDS
RUPESH
10 June 2012
1st Activity. Commodity Market: Where actual delivery of goods is taken or given in an open market place. Trading Activity.
.
2nd Activity. Commodity Market (Cash & Intraday): Trading on the exchange.
.
3.In case 2nd activity is carried on to guard against loss through future price fluctuations in respect of his "actual delivery contracts" in the 1st of activities, set off is possible.
.
4. In case 2nd Activity does not have any co-relation with the 1st activity- Set off is not possible.
.
2nd Activity. Commodity Market (Cash & Intraday): Trading on the exchange.
.
3.In case 2nd activity is carried on to guard against loss through future price fluctuations in respect of his "actual delivery contracts" in the 1st of activities, set off is possible.
.
4. In case 2nd Activity does not have any co-relation with the 1st activity- Set off is not possible.
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