TAXABILITY OF SPECULATIVE TRANSACTION
This query is : Resolved
Quick Summary
Suresh S. Tejwani
(Querist)
22 July 2023
HOW TO CALCULATE TURNOVER OF SPECULATIVE TRANSACTION OR NON-SPECULATIVE TRANSACTION ?
WHETHER TOTAL OF PROFIT AND LOSS NEED TO BE CONSIDERED AS TURNOVER ?
OR CAN BE SHOWN AS SHORT TERM CAPITAL GAIN ?
WHETHER TOTAL OF PROFIT AND LOSS NEED TO BE CONSIDERED AS TURNOVER ?
OR CAN BE SHOWN AS SHORT TERM CAPITAL GAIN ?
Dhirajlal Rambhia
(Expert)
22 July 2023
ICAI has provided guidelines for calculation of turnover of different business transactions, be speculative or non-speculative; but it cannot be declared as short term capital gain/loss without taking delivery of the goods/scripts.
Dhirajlal Rambhia
(Expert)
14 September 2024
Good luck.
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
- Late Filing Fee Waiver for Q1 Form 144 (Earlier 27Q) – Transition to Income-tax Act, 2025
- GST input credit on commercial property
- GSTR-9C filing
- GST ITC as per notification 12/2023- central tax
- Urd purchase entry in tally prime
- TDS- 2026-27 Q1 Correction
- Applicability of tax on invoice
- Advances to related party
- IMS (import of goods) ITC related
- Royalty payments to the Mining Department for procurement of murum - GST input
- Form 144 TDS Return Validation error
- GSTR9 Annual Return
- LLP audit and disclosure
- Subject: Legal Remedy for Removal of Income Tax Demand for AY 2024–25 – Charitable Trust
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Tally: Imported bank entries do not show up in manual reconciliation
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
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
