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Transaction in commodity future

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(Querist)
06 June 2012 sir,
I have transaction in commodity future in that no delivery i have taken, how the turnover should be counted??, and whether it should be shown as speculation business or normal business??
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VIKAS KUNDU

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VIKAS KUNDU (Expert)
06 June 2012 The transaction is not a speculation business. As you mentioned transaction is settled without delivery, transaction should be recorded on net amount paid or received by you. A single transaction does not constitute business and it should be shown as income from other sources.
Hope the above is suffice.
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
19 July 2023 "Sorry, I am not a featured member."

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