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What is mean of non-speculation ??
What is mean of Non-Speculation ??
Replies (6)
As Per Sec 43 (5) of income tax act,1961, Speculative Transaction means a transaction in which a contract of purchase or sale of any commodity including stocks and shares, is periodically or ultemately settled otherwise than by the actual delivery or transfer of the commodity or scrips.
That mean, its come in Profit from Business or Loss from Business
Sir profit and loss from both speculative and non speculative business will come under the head P/G/B/P.
sorry sir,
P/G/B/P means
Mr.Bharath, it means Profit and gains from business and profession.
Thank you sir ,,
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