Speculation Business - Section 43(5)
This query is : Resolved
11 July 2010
Respected Sir,
I have a query regarding Section 43(5), an eligible transaction in respect of trading in deriatives:
Sir, the stock exchange (through which transaction is carried out) must be recognized and should have the approval of SEBI in respect of trading in deriatives and it should function in accordance with the guidelines or conditions laid down by SEBI.
Accordingly, BSE and NSE Stock exchanges are recognized ones.
So, what is the treatment for the commodity transactions carried out through "MCX" and "NCDEX" ?
Thanking you.
Regards,
kdm.
I have a query regarding Section 43(5), an eligible transaction in respect of trading in deriatives:
Sir, the stock exchange (through which transaction is carried out) must be recognized and should have the approval of SEBI in respect of trading in deriatives and it should function in accordance with the guidelines or conditions laid down by SEBI.
Accordingly, BSE and NSE Stock exchanges are recognized ones.
So, what is the treatment for the commodity transactions carried out through "MCX" and "NCDEX" ?
Thanking you.
Regards,
kdm.
Sunil Kr. Sanganeria
(Expert)
12 July 2010
Any transaction carried through MCX and NCDEX will be treated as speculative transactions
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