An Assessee in trading in derivative market instruments (both Equity and Commodities) and the net effect from trading in commodities is gain and whereas from equity instruments is loss.

Now my question whether the net impact of the such trading activities (which is the gain) is to be taxed as gain/profits from speculative business or under the head capital gains.

Whether in any case long term capital gains can arise in such activities

Which section of the IT Act will deal with such a situation and which section deals with the carry forward or set off such losses??

Waiting for the valuable suggesstions from the friends and experts out there at CCI....

Thanks in advance