is profit or loss from futures & options trading will be taxable under head speculation business or non speculation business ? what ever future or option purchased was not squared of in the same day.
CA Vinay Saraf (CA) (148 Points)
18 September 2008is profit or loss from futures & options trading will be taxable under head speculation business or non speculation business ? what ever future or option purchased was not squared of in the same day.
No dear. CBDT by circular clarified that trading in derivative need not be considered as Speculative Business. But it should be treated as the nature suggest. One can inlcude gain/loss from F&O transaction under the head of Capital Gain too. But nature of transaction and intention of assessee shold be seen to decide whether the transaction is business or Investment ?
Analysis of 20 GST Notices (including 2 Appeals) and Practise on Drafting(with recording)
CAclubindia
