commodity future tarding is speculative or normal business

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sunil (Querist)
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29 June 2010 1. whether trading in gold future trading is speculative or normal business, (kindly refer any notification if possible).

2.
future thading in sahres is also of which nature.

Aditya Maheshwari

Aditya Maheshwari (Expert)
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29 June 2010 1. Trading in gold futures is speculative business as defined u/s 43(5).

2. Trading in shares is normal business income as it is traded on a recognised stock exchange in India as per Section 43(5).