Sole proprietorship
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
26 November 2012
hi i am a full time day trader . i want to establish a sole proprietorship on my name as i trade on my name and for myself . i know that no license is required for this . to open a current a/c i need to have a registration certificate , license , company seal etc . so how can i go about sole proprietorship . throw some light on income tax filings as i buy and sell derivatives futures and options on the same day as well . do they come under speculative income or business income .
27 November 2012
Explanation to Section 43(5) provides that transactions in derivatives shall NOT be treated as speculative transactions if they are conducted through a stock exchange on real time systems.
Accordingly, the same shall be treated as normal business income.
Accordingly, the same shall be treated as normal business income.
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