| If an assessee has more than 2 crore profits from derivatives then where should i account this income either under PGBP or in Capital gains ? |
Tax Planning
Ruchi (CA ) (42 Points)
08 January 2008
8 Replies
CA. Amit Daga
(Finance Controller CA. CS. CFA. CIFRS. M.COM. )
(9017 Points)
Replied 08 January 2008
Hi
Ruchi
Deriviatives is not considered as Capital Gain income.
Income from derivatives will be called income from business and previously it was speculative income.(as per section 43(5))
CA. Amit Daga
(Finance Controller CA. CS. CFA. CIFRS. M.COM. )
(9017 Points)
Replied 08 January 2008
dada
no one will give you tax planning in the open forum because for tax planning you need to know lots of thing .
So its my advice if its work related take a proper advice from ca in practice or if its just for knowldege than its fine
CA. Amit Daga
(Finance Controller CA. CS. CFA. CIFRS. M.COM. )
(9017 Points)
Replied 08 January 2008
Thanks Chaitanya
Amit Sharma
(article)
(2677 Points)
Replied 09 January 2008
What Mr.Amit Daga said is 100% correct all these things sholud not be disclosed
Ruchi
(CA )
(42 Points)
Replied 09 January 2008
Thanks Amit in which head this will include i want to know now its fine
CA. Amit Daga
(Finance Controller CA. CS. CFA. CIFRS. M.COM. )
(9017 Points)
Replied 18 January 2008
Ruchi you will included in the head of pgbp
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