TAXABILITY OF SPECULATIVE TRANSACTION
This query is : Resolved
22 July 2023
HOW TO CALCULATE TURNOVER OF SPECULATIVE TRANSACTION OR NON-SPECULATIVE TRANSACTION ?
WHETHER TOTAL OF PROFIT AND LOSS NEED TO BE CONSIDERED AS TURNOVER ?
OR CAN BE SHOWN AS SHORT TERM CAPITAL GAIN ?
WHETHER TOTAL OF PROFIT AND LOSS NEED TO BE CONSIDERED AS TURNOVER ?
OR CAN BE SHOWN AS SHORT TERM CAPITAL GAIN ?
22 July 2023
ICAI has provided guidelines for calculation of turnover of different business transactions, be speculative or non-speculative; but it cannot be declared as short term capital gain/loss without taking delivery of the goods/scripts.
14 September 2024
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