A person having only interest income does a single commodity transaction during the year.
under which head his income should come?
1. Business Income
2. Income from Other Sources
3. Speculation Business
6 Replies
Honey
(student)
(134 Points)
Replied 25 May 2012
It depends on time period between purchase and sale. If within same day then speculation, if more than 1 day then business income
CA Ashwani Agarwal
(Practice)
(3049 Points)
Replied 25 May 2012
Even if it is just a single transaction??? Still we have to show it in speculation?
Jitendra Agrawal
(article assistant/student)
(21 Points)
Replied 25 May 2012
if loss arise on this type of transaction then what will happend?
neeraj
(CA)
(930 Points)
Replied 25 May 2012
I think Speculation loss if sold on same day otherwise business loss
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