derivatives
This query is : Resolved
16 August 2007
is trading in derivatives speculative or normal business income? can loss in derivatives be set off against normal business income
rahul
rahul
19 August 2007
Trading in derivatives is like trading in shares only.
Speculative transaction means the transation is settelled without being taking the actual delivery.
Speculative income definition does not include the derivatives. So derivatives are taxable under the head "Capital Gain".
So Trading in derivatives is neither a speculative nor a normal business income. And loss in derivatives cannot be set off against the normal business income.
Speculative transaction means the transation is settelled without being taking the actual delivery.
Speculative income definition does not include the derivatives. So derivatives are taxable under the head "Capital Gain".
So Trading in derivatives is neither a speculative nor a normal business income. And loss in derivatives cannot be set off against the normal business income.
21 August 2007
as per CBDTs guidelines, income from derivatives is income from business & not income from speculation & nor capital gains.
20 March 2008
CAN BE SET OFF
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
- House Property Reporting in ITR
- Refund Annexure-B
- TDS Claim year
- Internship/Academic shown in Salary Pay Slip of a Doctor
- Refund of 20%pre-deposit paid for stay application
- Rent lease agreement
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- TDS Challan Code
- Liable to deduct tds and 44ADA
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
