17 July 2010
mr aditya income from futue and option is treated as speculation business income as per sec 43(5) of income tax provided future contracts are made for hedging the position in non sepculation business of manufacturing and merchentdising goods
hence if futur contract ismade for hedging and assesse have business of that related transaction thenit is treated as non sepculation business
17 July 2010
W. e. f. 25.01.2006 F & O in shares is not treated as speculation business with amendments in Section 43(5). So hedging is not a condition now to judge whether the same is speculative or not.
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