23 April 2010
If a person trades every day in futures and options - Whether the Gain arising to him tantamounts to Speculative gains or it is to be considered as the Business profits ? and what are the Tax implications of both?
Till now its nowhere written in Act what to consider... There are certain factors needed to be seen. Quantum of dealing, Amount of dealing etc. Than have to calculate the favourable and unfavourable aspects and than have to decide what to consider.
CAclubindia
