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India set to tax non-farm commodities futures for first time

Posted on 01 March 2013

India, the world’s largest user of gold, will tax commodities futures contracts for the first time after trading surged five fold in five years.
The levy will be 0.01 percent of the value of trade of all non-farm commodities, Finance Minister Palaniappan Chidambaram said today while presenting the annual budget for 2013-2014. “There is no distinction between derivative trading in the securities market and derivative trading in the commodities market, only the underlying asset is different,” he said………………………………………..Full Article: Source


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