Intra-day in shares whether speculative
This query is : Resolved
27 August 2008
Income on Intra day in shares
Whether treated as speculation profit or non-speculative profit
Whether treated as speculation profit or non-speculative profit
28 August 2008
give me legal support whereas future and options are not speculative business now as per clarifications of CBDT
28 August 2008
though its look illogical that F&O trade is treated under normal business where as the day trading as speculative trade but this is true.
Now what is meaning of speculative business ,we can say where we trade without a motive of taking deliveries or giving deliveries it will be treated as speculation so by these definition both intra day trade and F& O are covered under speculation Income
But CBDT has through its notification notifies that F&O income will be treated as normal business Income and nothing is said about other speculative activities so they remain with the earlier status and will be covered under speculation income
This has been done to promote F&O in equities.One thing you should also remember that commodity Future are also covered under speculation as the said notification only cover F& o of equities
Now what is meaning of speculative business ,we can say where we trade without a motive of taking deliveries or giving deliveries it will be treated as speculation so by these definition both intra day trade and F& O are covered under speculation Income
But CBDT has through its notification notifies that F&O income will be treated as normal business Income and nothing is said about other speculative activities so they remain with the earlier status and will be covered under speculation income
This has been done to promote F&O in equities.One thing you should also remember that commodity Future are also covered under speculation as the said notification only cover F& o of equities
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 194-T applicability
- Fixe term employment
- Is any professional CA is here please reply
- GST ITC REVERSE
- Section 50-fixed asset-->building ceases to exist
- Regarding Applicability of Tax Audit u/s 44AB
- Consolidated financials
- Withdrawal in cash from partners capital account by partner
- TDS on Complimentary "Desi Ghee and Gold Coin" Provided to KBC Contestants
- RCM ISSUE ON RENT AND TRANSPORTATION CHARGES
- 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
- STATUTORY AUDIT OF A SMALL PRIVATE COMPANY INCORPORATED ON 28.03.2025
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
- How to pay remaining amount of TDS after due date?
- Resigning a auditor from the company for misconduct
- RCM @ 5% on Hamali charges, Transport Charges, Unloading charges we take ITC or not
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
