TREATMENT OF PROFIT/ LOSS
This query is : Resolved
14 January 2010
IN CASE WE ARE A REGISTERED NCDX/MCX COMMODITY EXCHANGE BROKERS.THE PROFIT/LOSS IN FIRM'S OWN DEALINGS WILL BE TREATED WHERE - AS BUSINESS PROFIT/LOSS OR SPECULATIVE PROFIT/LOSS. KINDLY SUGGEST.
14 January 2010
The moot point is whether the investments have been held for the purpose of taking advantage of the price movements or in the nature of speculative nature then the same would not be counted as part of the business profit or loss , but it would counted as the spculative one and vice cersa.
If the Investments have been held for the purpose of a specific mandatory requirements then it would be in the nature of business loss therefore the same would tantamount to non-speculative losses.
If the Investments have been held for the purpose of a specific mandatory requirements then it would be in the nature of business loss therefore the same would tantamount to non-speculative losses.
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
- CG Tax On residential property
- Applicable TDS for Purchase of Flat from NRI
- Claiming exemption of perquisite for employee-owned car under New Tax Regime in ITR-2
- Gift of mutual fund units to daughter
- Under construction property in ITR
- Not able to file ITR
- Building tax payment deduction in rental Income
- Reporting of STCG on Property in ITR
- Upload Level ValidationITR3Category of Defect B/D
- NRI ITR2 account in 2025-26 ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,.
- 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
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
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
