Speculative
This query is : Resolved
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
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
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.
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.
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.
13 November 2009
it is business income only.
13 November 2009
Derivative income(regular basis) considered as Business income.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- Section 194JA & JB Income which ITR Form to use
- Pass word to open justification report for Q1 for FY 2026-27
- PPF interest-As Exempt Income disclosure
- Under construction property in ITR
- Scrutiny and reopening of past returns
- Booth for sales promotion
- Upload Level ValidationITR3Category of Defect B/D
- Building tax payment deduction in rental Income
- F & O PROFIT REPORTING FOR AY 2026-27
- Difference in GSTR3B system generated which is correct and actual Payment it asks
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Taxation in the hands of Landowner under JDA
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
