Commodity profit
This query is : Resolved
04 July 2012
Whether Gain on Commodity Transaction can be classified into Income From Other Sources or it must be compulsarily shown under B&P.
There are only 3 or 4 bills of Commodity Transaction.
There are only 3 or 4 bills of Commodity Transaction.
05 July 2012
Gains from commodity transactions entered into commodity exchanges will come under Business or Profession under speculative gain only..
05 July 2012
Thanks for the reply sir,
Dear Sir in section 43(5) it is mentioned that transaction in respect of trading in derivatives is excluded from Speculative transaction if carried through recognozed stock exchange.
Please give me proper knowledge regarding this because i am confused regarding the understanding of commodity transactions. then how come will it come under Speculation
Thanks and Regards
Dear Sir in section 43(5) it is mentioned that transaction in respect of trading in derivatives is excluded from Speculative transaction if carried through recognozed stock exchange.
Please give me proper knowledge regarding this because i am confused regarding the understanding of commodity transactions. then how come will it come under Speculation
Thanks and Regards
05 July 2012
I think that is with respective trading in stock futures and not commodity futures.
You can please recheck it and confirm.
You can please recheck it and confirm.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- REGARDING GST ON COMMERICIAL PROPERTY
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- GST on export of services and Input Credit
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- ITC temporary reversal and reclaim
- TDS U/S. 194NF
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- Applicable TDS rate for sale of property in Nov 2024
- GST ON EXPORT COMMISSION
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
