Speculative

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CA. Jyoti Baid (Querist)
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12 November 2009 Respected All,

Is profit or loss on currency derivative speculative income or business income.

As per Section 43(5)(d), trading in derivatives shall not be deemed to be speculative transaction.

Regards,
Jyoti

CA Ravi Sisodia

CA Ravi Sisodia (Expert)
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12 November 2009 I think profit or loss on currency derivative is speculative income or business income, its depand on sistuation. if trading in derivatives is do regular basis then it is a speculative business income.if not then ihs treats as speculative income which includs other sources.

CA. Jyoti Baid

CA. Jyoti Baid (Querist)
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13 November 2009 Thank you for the reply.

But Section 43(5)(d) has been inserted to specifically treat TRADING IN DERIVATIVES as non-speculative income.

My question is if currency derivative also included in the definition of derivatives above.

hshivakumar

hshivakumar (Expert)
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13 November 2009 it is business income only.

CA Ravi Sisodia

CA Ravi Sisodia (Expert)
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13 November 2009 Derivative income(regular basis) considered as Business income.

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