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.
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
- Ewaybill Material value reg
- SEA GOING ALLOWANCE
- Treatment of Profit on sale of fixed assets
- SALES MADE THROUGH E COMMERCE OPERATOR 9(5)
- Which ITR application
- TDS whether applicable or not in case of Flat purchase
- Transfer of Rectification Rights to the Jurisdictional Assessing Officer
- Transfer of rectification rights to ao
- IGST Refund pending since June 2022.
- Procedure and Documents Required for Release of FD from DVAT
- Regarding Tax Audit of Parternship firm (In case of first year)
- Supplementary audit
- E proceeding query u/s 143(2) for a.y. 24.25
- REQUEST FOR HELP IN TALLY THE BALANCE SHEET
- CHANGE IN PARTICULARS OF DIRECTOR
- Non- payment of GST on supply of services- reg
- Accumulated surplus exceeding 15%
- Different GST Number MEESHO
- Fees amount transfer procedure for two doctors
- Notice u/s 148 of IT Act
Trending Online Classes
CAclubindia
