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derivative tax rate along with section/reference...

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(Querist)
25 June 2007 i want to know the applicability of tax rate to derivative & future & option along with if any caselaw,section refernces????
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Jitender

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Jitender (Expert)
26 June 2007 As per CBDT guidlines income from futures and options are considered as income from busniess and profession. Therefore rate will be 30% + surcharges + EC in case of company and slab rate in case of individual.

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