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Commodity Trading

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(Querist)
30 May 2010 Could u pls clear me the following doubt.

1. What is commodity trading?

2. In which head the income from commodities trading will b taxable under indian income tax act?
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CMA. CS. Sanjay Gupta

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CMA. CS. Sanjay Gupta (Expert)
30 May 2010 Commodities trading is a sophisticated form of investing. It is similar to stock trading but instead of buying and selling shares of companies, an investor buys and sells commodities. Like stocks, commodities are traded on exchanges where buyers and sellers can work together to either get the products they need or to make a profit from the fluctuating prices.

TREATED AS BUSINESS INCOME IF REGULAR BUSINESS OTHERWISE INCOME FROM OTHER SOURCES.
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