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Commodities Briefing - Categorized | Trading more

India: Commodities trading no longer speculative?

Posted on 25 July 2013

One of the amendments carried out by the 2013 budget was the introduction of commodities turnover tax (CTT), effective 1 July 2013. Simultaneously, the budget amended the definition of speculative transaction under income tax laws to exclude commodity derivative transactions carried out in a recognized commodity association (recognized commodity exchange).
The exclusion would apply to all commodity derivatives transactions in agricultural as well as non-agricultural commodities and not just non-agricultural commodity derivatives, which are subject to CTT………………………………………..Full Article: Source


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