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Speculation and Non speculation

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(Querist)
17 December 2010 plz tell me whether the profit or loss in the following transactions are speculative or non - speculative?
1. Trading in Derivative
2. Trading in Commodity
3. Trading in Futures
4. Trading in Options
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
17 December 2010 Trading in derivatives i. e. futures & options in shares & currency is non specuation business income where derivatives in commodities is specution business.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
17 December 2010 Pl go through proviso (d) to section 43(5) of the Income tax Act,1961.
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