Trading in Futures & Options

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Nagaraj SV (Querist)
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23 April 2010 If a person trades every day in futures and options - Whether the Gain arising to him tantamounts to Speculative gains or it is to be considered as the Business profits ? and what are the Tax implications of both?

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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23 April 2010 SPECULATIVE GAIN. TAX RATES NORMAL AS APPLICABLE.

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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23 April 2010 It is not a speculative transaction as per proviso (d) to section 43(5) of the Income tax Act,1961.

CA Shiv

CA Shiv (Expert)
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23 April 2010 Hello,

Till now its nowhere written in Act what to consider...
There are certain factors needed to be seen. Quantum of dealing, Amount of dealing etc. Than have to calculate the favourable and unfavourable aspects and than have to decide what to consider.

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