Classification of future income
This query is : Open
Dhiraj kumar
(Querist)
13 June 2013
Dear Sir,
I want to know whether income from futures and options are speculative or Non-Speculative and how the loss from these are treated in Income Tax Act?
Waiting for a prompt response!
Thanks & Regards
Dhiraj Kumar
I want to know whether income from futures and options are speculative or Non-Speculative and how the loss from these are treated in Income Tax Act?
Waiting for a prompt response!
Thanks & Regards
Dhiraj Kumar
CMA Ramesh Krishnan
(Expert)
16 June 2013
Income from futures & options are non speculative income. it is normal business income
Dhiraj kumar
(Querist)
17 June 2013
Thank you sir for your reply.
But,in some cases I have seen,loss from futures which is non-speculative is not being allowed to be set off against other income.
Thus department is not considering Loss from Futures and options and sending Demand Notice.
Now,What should I Do?
But,in some cases I have seen,loss from futures which is non-speculative is not being allowed to be set off against other income.
Thus department is not considering Loss from Futures and options and sending Demand Notice.
Now,What should I Do?
CMA Ramesh Krishnan
(Expert)
17 June 2013
let me know notice of demand made under which section?
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GST on reimbursement of expenses
- Visiting card purchase
- Query on effect of registration of property
- Due date for filing return for the partner in partnership subjected to Tax Audit
- Additional trade name
- Whether output tax is taken credit by purchaser
- Equity Share Sale and Purchase
- Number of years as per AS amortisation of Goodwill
- Wrong CMPo8 file
- Goodwill transfer of deceased father’s firm – ICAI applying a 27.04.2026 cut-off to the 3 year limit
- Classification of income of P Ltd company as business or profession
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
