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What is Speculative bussiness

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Senior Associate
154 Points Posted on 13 March 2010

what is speculative bussiness?????

can any one explain that in simple language by using some example??

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On 13 March 2010 at 15:06 Report
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CA in Practice
35867 Points Posted on 13 March 2010
"Speculative transaction" means a transaction in which a contract for the purchase or sale of any commodity, including stocks and shares, is periodically or ultimately settled otherwise than by the actual delivery or transfer of the commodity or scrips.
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On 13 March 2010 at 15:08
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CA in Practice
35867 Points Posted on 13 March 2010
However Futures & Options in shares & currency are not considered as Speculative business for Income Tax purpose
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On 13 March 2010 at 15:14
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Senior Associate
154 Points Posted on 13 March 2010

that's the definition!!!!!!!!

 

can u give an example??????

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On 13 March 2010 at 15:15
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CA in Practice
35867 Points Posted on 13 March 2010
Example would be you purchase 100 Reliance Industries Shares at Rs. 1015/- and sell the 100 shares on the same day at Rs. 1020/- thereby earning a profit of Rs. 500/-. This profit is speculation profit.
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On 13 March 2010 at 15:22
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Senior Associate
154 Points Posted on 13 March 2010

any other  example other than this share transactions????????

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On 13 March 2010 at 15:25


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