Whether Hedging Transaction in Agri Commodity (eg. Guvar) on NCDEX be treated as business income or speculation business.? We have profit from Delivery Transaction and loss from speculation(Hedging) Transactions. Whether Profit can be setoff againts loss? Transaction entered both of purchase and sales of hedging are reversed.
Please reply Immediatly.
NCDEX is not a recognised stock exchange as per the explnation given in Sec 43(5) and hence any transaction of non-delivery transaction will be speculative transaction.
Chirag P Shah & Co. Chartered Accountant
Pune
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