04 July 2015
I had a profit of Rs. 527000/- from MCX Commodity Trading in the FY. 2014-15. I want to know under which heads of income should I recognise the trading profit form MCX Commodity. Is it a Speculative Income or Normal Trading Income? Also inform me the tax liability ?
06 July 2015
it also mandatory to get your accounts audited. income-tax department anyways know that you are into commodity trading. So no point in hiding it under capital gains.
Querist :
Anonymous
Querist :
Anonymous
(Querist)
06 July 2015
Thanks a lot....
one last question...
so now can i show this as a normal purchase and sales transaction & difference as a profit/loss..???