| The classification of income as speculative or non-speculative is vital, as speculative losses can be carried forward only for four years and set off only against speculative incomes. Finance Act 2013 states that commodity derivatives would not be treated as ‘speculative transaction’ from April 1, 2013, provided.
it is executed on an electronic screen-based system through an intermediary of a recognised association (such as MCX or NCDEX); and it is supported by a contract note containing prescribed particulars...............................................Full Article: Source
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