A person having only interest income does a single commodity transaction during the year.
under which head his income should come?
1. Business Income
2. Income from Other Sources
3. Speculation Business
A person having only interest income does a single commodity transaction during the year.
under which head his income should come?
1. Business Income
2. Income from Other Sources
3. Speculation Business
It depends on time period between purchase and sale. If within same day then speculation, if more than 1 day then business income
Even if it is just a single transaction??? Still we have to show it in speculation?
agree with ashwini
yes if it is sold on same day
if loss arise on this type of transaction then what will happend?
I think Speculation loss if sold on same day otherwise business loss
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