05 April 2012
If i had done a commodity transaction in which STT has been paid . however this transaction is speculative and not for the purpose of hedging. then whether the profit will be taxed under B&P or Capital gain as if it is taxed under B&P then taxed @30% and under CG @ 15% so plz suggest asap.
06 April 2012
Dear Friend, When STT is deducted from your transactions then profit / loss generated from those transactions will be Short Term Profit/ Loss and same will be taxable as Business or Profession Profit / Loss and rate of tax depends upon status of person . Thanks
CAclubindia
