Commodit transaction as business transaction not speculation
This query is : Resolved
02 August 2013
I WANT TO KNOW THAT FROM WHICH DATE " COMMODITY TRANSACTION " IS CONSIDER AS BUSINESS TRANSACTION ????????????
ALSO WANT TO KNOW THAT " COMMODITY TRANSACTION TAX " IS CONSIDER AS BUSINESS EXPENCES AND ALLOWED TO BE AS BUSINESS EXPENCES FROM WHICH DATE ??
ALSO WANT TO KNOW THAT " COMMODITY TRANSACTION TAX " IS CONSIDER AS BUSINESS EXPENCES AND ALLOWED TO BE AS BUSINESS EXPENCES FROM WHICH DATE ??
02 August 2013
From the date of buying or selling and CTT is not allowed as business exp as tax is a charge on profit and it is not an exp deductible upto 30.6.2013.
02 August 2013
CTT is levied from 1.7.2013 @ .01% of the transaction value. So it will be allowed as Business Expense from .01.07.2013 onwards only.
.
For clearer view refer this Write Up.
http://www.madhyam.org.in/admin/tender/Madhyam%20BP%2010.pdf
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In Section 43(5) clause (e) and Explanation 2 has been added.
.
.
For clearer view refer this Write Up.
http://www.madhyam.org.in/admin/tender/Madhyam%20BP%2010.pdf
.
In Section 43(5) clause (e) and Explanation 2 has been added.
.
02 August 2013
sir the link mentioned above is showing error.
Message likes :
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02 August 2013
Thanks Tushar, now you may try.
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And see the impact -
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http://articles.economictimes.indiatimes.com/keyword/ctt
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And see the impact -
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http://articles.economictimes.indiatimes.com/keyword/ctt
.
Message likes :
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02 August 2013
Thank you sir for updating.
Humour:
the impact was a bang reply to my reply above.
Humour:
the impact was a bang reply to my reply above.
02 August 2013
sir,, want to know that from which date commodity transaction consider as busineess transaction..?
means commodity transaction are not consider as speculation transaction from which date?
if u reply on this .. i would be greatful
means commodity transaction are not consider as speculation transaction from which date?
if u reply on this .. i would be greatful
02 August 2013
sir,, want to know that from which date commodity transaction consider as busineess transaction..?
means commodity transaction are not consider as speculation transaction from which date?
if u reply on this .. i would be greatful
means commodity transaction are not consider as speculation transaction from which date?
if u reply on this .. i would be greatful
02 August 2013
Date : 01.07.2013.
Message likes :
1 times
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