31 October 2007
Speculation is done to earn quick money. There can be profit or loss. In shares if you do intra-day then that is speculation. In land dealings if you buy for short term and sell it is speculation. You must clarify the intention of the transaction to clarify further.
06 November 2007
Section 43(5) of the IT act, a transaction involving a contract for purchase and sale of commodities, including stocks and shares, which is periodically or ultimately settled other than by actual delivery or transfer of commodities or scrips. Transfer of Derivatives - Not a Speculative business.
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