Q-1 can derivate transactions( futures and options- stock market) be considered as business income?
If yes, then; can any loss be in deriative be used to offset tax liability from any other source apart from salary income?
Q-1 can derivate transactions( futures and options- stock market) be considered as business income?
If yes, then; can any loss be in deriative be used to offset tax liability from any other source apart from salary income?
1. Yes, its non-speculative business.
2. Yes; Correct...
CAclubindia
