how can we classify currency f&o as speculative and non speculative business income
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currency f&o
Replies (3)
F&O currency is a Non-speculative business
Whether it is for trading or hedging
1. Gains/Loss under the head F&O will be considered as Non-speculative and it also applies to currency products.
2. Hence, income/ loss will be classified under Business income and it will never be considered as speculative income and loss if any can be carry forwarded for a period of 8 AY.
3. For whatever the purpose F&O's are used it will be categorized under non-speculative income.
Please correct me if the above solution has an alternative view.
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