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09 March 2013
how the future contracts(derivative Market) are taxable
09 March 2013
depending on facts of the case, business income or income from other sources.
10 March 2013
I have searched from the site $ they have written that future contracts are not capital assests. Hence not taxable. I am just confirming that.
10 March 2013
Sahil,
there are not capital assets means that they are not taxable under "income from capital gains".
Since, the derivatives referred by you are being traded on stock exchanges, they won't constitute speculative income.
Therefore, depending upon the facts, the said income shall be taxable as business income or income from other sources.
I am leaving the query open for other experts.
there are not capital assets means that they are not taxable under "income from capital gains".
Since, the derivatives referred by you are being traded on stock exchanges, they won't constitute speculative income.
Therefore, depending upon the facts, the said income shall be taxable as business income or income from other sources.
I am leaving the query open for other experts.
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