F&O Transaction
This query is : Resolved
09 July 2009
Please tell me the treatment of F&O trnsactions.Whether it is a speculation business or an ordinary one for carry forward of business losses.Kindly specify notification no (if any) in this regard.
09 July 2009
As per recent circular it is treated as speculation transaction
09 July 2009
F&o transactions are not 'Speculative'. as per Sec.43(5)
09 July 2009
More specifically proviso (d) to section 43(5) of the IT Act,1961.
Dealings in derivatives is a kind of transaction which does not involve any purchase and sale of securities and,therefore, loss/profit on a/c of F&O transactions cannot be treated as speculative.
Citation:-RBK Securities(p) Ltd Vs. ITO 13 DTR 255(Mum-Tri).
Dealings in derivatives is a kind of transaction which does not involve any purchase and sale of securities and,therefore, loss/profit on a/c of F&O transactions cannot be treated as speculative.
Citation:-RBK Securities(p) Ltd Vs. ITO 13 DTR 255(Mum-Tri).
Message likes :
1 times
09 July 2009
its non-speculative business
Message likes :
1 times
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
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- TDS U/S. 194NF
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- Inventory of finished goods
- Applicable TDS rate for sale of property in Nov 2024
- GST ON EXPORT COMMISSION
- Stock difference tax applicable on composite rate or normal rate
- 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
Trending Online Classes
CAclubindia
