Classification of income
This query is : Resolved
o p bansal
(Querist)
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
(Expert)
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.
As such the income is normal business income.
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