My client is doing transaction in commodity market as intra day. contract is settled on daily basis. "
trading in derivatives, referred to in Section 2(ac) of the Securities Contracts (Regulation) Act, 1956, carried out on a recognised stock exchange is not deemed to be a speculative transaction. Recognised stock exchanges are NSE, BSE, the MCX Stock Exchange and the United Stock Exchange of India. The transaction will be treated as non-speculative business income "
My question : Is intraday tracsaction in commodity market is trading in derivative and whether it is speculative or nos speculative business ? waiting for the views of the experts.
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