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MCX

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(Querist)
01 June 2011 How to treat the profit from the MCX ??

Either it is a Speculative Or Ordinary Business ???

If We Consider It As A Business Transaction then Even a Few transaction of Purchase and sale will reach to the limit of Audit i.e.. Rs. 60,00,000.. In that case is there any further guidlines or notification??????
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
01 June 2011 only Mark to market is considered as turnover in F & O trading.

In case of trading in commodities it will be considered as speculative business and turnover will be sum of positive and negative differences.
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Mayur M Kotak

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Mayur M Kotak (Querist)
03 June 2011 Thank u sir
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