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sahil mahajan

sahil mahajan (Querist)
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09 March 2013 how the future contracts(derivative Market) are taxable

Nikhil Kaushik

Nikhil Kaushik (Expert)
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09 March 2013 depending on facts of the case, business income or income from other sources.

sahil mahajan

sahil mahajan (Querist)
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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.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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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.

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