Speculative & non-speculative..
This query is : Resolved
12 November 2013
Guys can you explain me what is speculative business and non speculative business in detail ??!!
thanks in advance :-)
12 November 2013
This should help you.
http://www.dsij.in/article-details/articleid/5216/speculation-and-non-speculation-income.aspx
http://www.dsij.in/article-details/articleid/5216/speculation-and-non-speculation-income.aspx
12 November 2013
To know speculative business, we should first know what is speculative transaction.
As Per Sec 43 (5), Speculative Transaction means a transaction in which a contract of purchase or sale of any commodity including stocks and shares, is periodically or ultimately settled otherwise than by the actual delivery or transfer of the commodity or scripts.
It is to be noted that profit or loss from derivative trading carried out through a recognized stock exchange shall not be treated as profit or loss from speculative business.
However, derivative trading in commodities shall continue to be treated as speculative transaction.
As Per Sec 43 (5), Speculative Transaction means a transaction in which a contract of purchase or sale of any commodity including stocks and shares, is periodically or ultimately settled otherwise than by the actual delivery or transfer of the commodity or scripts.
It is to be noted that profit or loss from derivative trading carried out through a recognized stock exchange shall not be treated as profit or loss from speculative business.
However, derivative trading in commodities shall continue to be treated as speculative transaction.
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
- Refund of AY 22-23
- Should I include march foreign salary received in April in my income for FY 2023-24?
- HSN Details in IFF/GSTR-1 & in GSTR 9
- Tax on capital gains revoked us 54f
- Inventory of finished goods
- Sale of property furniture sale
- Confusion around Form 26QB fields
- Clarification on Documentation of Paid-Up Capital Contribution by Directors
- GST APPLICABILITY ON POLLUTION CHECK SERVICE
- Applicability of Ind As to associate of associate
- 115TD on cancellation of 12A 80G Registration
- Declaration of Profit of foreign subsidiary in Indian holding Company
- Return material
- TDS is applicable on payment of Fix Meal
- Form ITC 04
- TDR receipts for agreement holder
- Point (III) 9 of GSTR-9C
- MIS MATCH OF INVOICE NUMBER
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
Trending Online Classes
CAclubindia
