Whether trading in commodity future is ordinary or speculati
This query is : Resolved
03 August 2013
Dear Sir,
I want to know that trading in commodity future and option is ordinary business and not speculative business (like in case of trading in Futures and options of shares is Ordinary business).
Further section 43(5) of I . T Act includes purchase or sale of commodity as speculative transactions.
Please clarify it,
Thanks in advance
Regards
Dhiraj Kumar
I want to know that trading in commodity future and option is ordinary business and not speculative business (like in case of trading in Futures and options of shares is Ordinary business).
Further section 43(5) of I . T Act includes purchase or sale of commodity as speculative transactions.
Please clarify it,
Thanks in advance
Regards
Dhiraj Kumar
03 August 2013
yes u correctly ref sec43(5) it is speculative business.
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