Classification of income

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o p bansal (Querist)
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23 July 2011 Whether Income Or Loss from F & O and Derivatives Trading in Equity and Index Futures on National Stock Exchange to be treated as Normal Business Income OR Speculative Business Income?

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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23 July 2011 Since transactions are taking place in Recognised Stock Exchange by the virtue of Section 43(5), the income from such transactions is not treated as speculative income.

As such the income is normal business income.

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