all my friendz on club india.... plz make me clear regarding the tax treatmentof mark to market profit as on 31.3.2011 in case of futures trading in MCX n NCDEX IN INCOME TAX TREATMENT IN CASE OF COMPANY ....
4 Replies
CA MAYANK WADHERA
(CA CS CMA(I))
(789 Points)
Replied 16 June 2011
DEAR SUSHANT ,
IT WILL BE TREATED AS BUSINESS INCOME ON ACCRUAL BASIS
CA ADITYA SHARMA
(CA IN PRACTICE )
(16719 Points)
Replied 16 June 2011
| Originally posted by : mayank wadhera | ||
 |
DEAR SUSHANT , IT WILL BE TREATED AS BUSINESS INCOME ON ACCRUAL BASIS |
 |
agreed
chetan
(accountant)
(321 Points)
Replied 16 June 2011
Hi future C.A pls reply on my query which i have posted before minute under INCOME TAX HEAD
SUB : COMPUTER THE INCOME TAX
CA Priyank
(Priyank Sanghavi & Co)
(296 Points)
Replied 17 June 2011
It will be treated as business income u/s 28. It will not be treated as speculation profit / loss
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