what is speculative bussiness?????
can any one explain that in simple language by using some example??
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What is Speculative bussiness
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"Speculative transaction" means a transaction in which a contract for the purchase or sale of any commodity, including stocks and shares, is periodically or ultimately settled otherwise than by the actual delivery or transfer of the commodity or scrips.
However Futures & Options in shares & currency are not considered as Speculative business for Income Tax purpose
that's the definition!!!!!!!!
can u give an example??????
Example would be you purchase 100 Reliance Industries Shares at Rs. 1015/- and sell the 100 shares on the same day at Rs. 1020/- thereby earning a profit of Rs. 500/-. This profit is speculation profit.
any other example other than this share transactions????????
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