Speculative income

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

17 May 2014 Can anyone please upload/provide me with section 43(5)(d) of income tax act. and briefly explain speculative trading taxation in NSE.

Thankyou

Nikhil Kaushik

Nikhil Kaushik (Expert)
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18 May 2014 http://law.incometaxindia.gov.in/DIT/File_opener.aspx?page=ITAC&schT=&csId=58e0c01b-edae-4ed7-b77b-069badbdb1f1&rdb=sec&yr=303d6389-2d18-4432-bdbf-b74822b1a6df&sec=43&sch=&title=Taxmann%20-%20Direct%20Tax%20Laws

only equity trades not settled with actual delivery shall be accounted for as speculative...derivative trades wont be considered as speculative.

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Querist : Anonymous

Querist : Anonymous (Querist)

18 May 2014 If derivatives are bought and sold on same day will it still be treated as business income ?

Nikhil Kaushik

Nikhil Kaushik (Expert)
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18 May 2014 yes it will still be considered as business income but not as speculative business.

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