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New Bee
27-02-2009, 11:51 AM
Can Anyone give me an insight on Taxability of F&O as per Income Tax act. Sec 43(5) says trading in derivatives will not tantamount to Speculative business, then under which head of income it is covered. How is it taxed? Carry forward of loss arising from trading in F&O.

Taxman
27-02-2009, 11:52 AM
F & O is speculative income only & accordingly consiered as Business Income.