29 March 2012
It depends If its a case of share then business income If its commodity futures follwoed by deliverey then also business income If its commodity futures not followed by delivery then speculative income CA MANOJ GUPTA JODHPUR 09828510543
29 March 2012
Dervatives and futures always non delivery. Therefore, it shall be treated as speculative income. But it will be comes under business head only sir
29 March 2012
dear Mr Shiva in case of commodity one can take delivery th MCX or NCDEX In case of share futures section 43(5) provide that it will be business income but not so in case of commodity futures and hence gains are treated as speculative gain There is huge diff between business income and speculative income
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