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Section 43(5) - Meaning of term Speculative Transaction

Section 43(5) - Meaning of term Speculative Transaction - Income Tax - Profit and Gains of Business or Profession - 06 - SEC - 43(5): MEANING OF SPECULATIVE TRANSACTION This section defines a speculative transaction to mean a transaction in which a contract for purchase or sale of any commodity, including stocks and shares is periodically or ultimately settled otherwise than by actual delivery or transfer of the commodity or scrip. The Finance Act, 2005 provides that an eligible transaction in r .....

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duly registered stock broker or sub-broker. It is carried out on a recognized stock exchange. It is supported by a duly stamped contract note issued by such stock broker or sub-broker or intermediary to its client the contract note indicates the unique client identity number the contract note indicates the PAN Analysis of amendment made by Finance Act, 2013 & Finance Act, 2014 The amendment seeks to provide that an eligible transaction carried out in respect of trading in derivatives in comm .....

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