F&O income/loss
This query is : Resolved
27 July 2008
Whether an income by way of transactions in F&O segment can be treated as business income or be treated as income from speculative business? If it can be treated as business income, then can the loss in the said segment be adjusted against any other business income during the same financial year?
28 July 2008
Income from F&O segment of Stock Exchanges is non speculative in terms of Section 43(5) of the Income Tax Act. However, the income from derivatives of Commodity Exchange is speculative unless it is from a headging transaction. Headging transaction is the transaction entered in the F&O segment for sale of a commodity in hand with intention to cover up the risk of price fluctuation over the period such goods are sold or consumed for sale.
The non speculative part may be adjusted against other non speculative income or loss.
The non speculative part may be adjusted against other non speculative income or loss.
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
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- STCG....................................................
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- TAN for Partnership
- Treatment of Pension ?annuity returns on PMVY
- Sales return eway bill
- Free lancer income
- STCG FOR GOLD ETFs
- Loan by Partnership Firm
- Specified Profession
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- Nomination of Bank for refund in itr 2
- 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
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
