Income on mcx
This query is : Resolved
06 January 2015
my friend earned incomeRs.10,00,000/- on MCX in year 2011-12 and incurred loss on MCX in next year 2012-13 for Rs. 12,00,000/- Is the income will be taxable in the year 2011-12. or it may be compensate in 2012-13
07 January 2015
The Income will taxable in Assessment year 2012-13 (FY 2011-12)
And losses of Assessment Year 2013-14 (FY 2012-13) will be carried forward, if eligible.
And losses of Assessment Year 2013-14 (FY 2012-13) will be carried forward, if eligible.
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
- TDS Challan - change of FY 2025-26 to TY 2026-27
- Gst registered proprietorship firm
- Price inclusive or exclusive of GST while made entry in P& L Account
- Minimum tax payable to file Updated return
- AUDITOR APPOINTMENT FOR THE YEAR ENDING MARCH 27
- Salary from Qatar in Dollars in India
- TDS on purchase of under construction property from a reseller
- GST ISSUE OF INPUT AND OUTPUT GST
- Change Of Karta In Case of Death
- GST Intimation due to Government took possession of Business Premises under PPE Act
- Non filing of I T Returns
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Starting trading business
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
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
