F&O Transaction
This query is : Resolved
09 July 2009
Please tell me the treatment of F&O trnsactions.Whether it is a speculation business or an ordinary one for carry forward of business losses.Kindly specify notification no (if any) in this regard.
09 July 2009
As per recent circular it is treated as speculation transaction
09 July 2009
F&o transactions are not 'Speculative'. as per Sec.43(5)
09 July 2009
More specifically proviso (d) to section 43(5) of the IT Act,1961.
Dealings in derivatives is a kind of transaction which does not involve any purchase and sale of securities and,therefore, loss/profit on a/c of F&O transactions cannot be treated as speculative.
Citation:-RBK Securities(p) Ltd Vs. ITO 13 DTR 255(Mum-Tri).
Dealings in derivatives is a kind of transaction which does not involve any purchase and sale of securities and,therefore, loss/profit on a/c of F&O transactions cannot be treated as speculative.
Citation:-RBK Securities(p) Ltd Vs. ITO 13 DTR 255(Mum-Tri).
Message likes :
1 times
09 July 2009
its non-speculative business
Message likes :
1 times
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
- Off Market debit and credit transaction
- Showing Gift from relative in ITR for this year
- Short Term Capital gain on shares bought and sold after 2018 onwards
- Share accounting-->fifo - capital gain - period as per fifo?
- ITR selection for salaries and capital gain less than L
- ITR filing- non tax audit cases- Asstt.Year 2026-2027
- Soyabean hsn code and gst rate
- Treatment of Pension ?annuity returns on PMVY
- Capital Gain on EUITY Shares
- Scrutiny assessments u/s 143(2) for AY 25-26
- TDS on payment to CHA as per new section
- Sale of Forign Shares
- INCOME TAX ON REDEVELOPEMENT OF FLAT
- Form 10E u/s 89(1). Need clarification because experts opinions differ !!!!
- Gst invoice numbering and delivery challan numbering
- Standard Deduction claim for EPFO Pension and ICICI Prudential Life Annuity
- Small dealers gst returns filing
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
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
