Commodity Transaction Tax

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..... Commodity Transaction Tax
Query (Issue) Started By: - Ashutosh Chhawchharia Dated:- 14-3-2013 Last Reply Date:- 20-3-2013 Income Tax
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Income Tax
Whether Commodity Transaction t .....

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..... o be treated as Speculative or Non Speculative Transaction? Reply By CA. Surender Gupta: The Reply: Mr. FM in his budget speech says: There is no distinction between derivative trading in the secur .....

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..... ities market and derivative trading in the commodities market, only the underlying asset is different. It is time to introduce Commodities Transaction Tax (CTT) in a limited way. Hence, I propose to l .....

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..... evy CTT on non-agricultural commodities futures contracts at the same rate as on equity futures, that is at 0.01 percent of the price of the trade. Trading in commodity derivatives will not be conside .....

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..... red as a 'speculative transaction' and CTT shall be allowed as deduction if the income from such transaction forms part of business income. As I said, agricultural commodities will be exempt.
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..... ussion Forum - Knowledge Sharing .....

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