How to trade Commodities - Gold, Silver, Crude Oil, Natural Gas

[adityasaraf007]

Income from Derivatives is Taxed as Business Income (Speculation)...Your Tax Lawyer has done correct computation.... but your Loss can be carried forward and offset against in the subsequent FY...think it can be carried forward for 3 years though, not sure about the number of years.

Which means if you had incurred Loss in this FY11-12 and profit in the next FY12-13 then your loss of FY11-12 can be adjusted when filing your returns for FY12-13. (Under same heading)

SG

Derivative Transaction is not considered as a Speculative Business under Income Tax Law......

And for carry forward of loss..... return should have been filed within due date..... it can be carried forward for 8 years if filed within Due Date...

 

[ayush2020]

any levels for crude and silver ???

 

[adityasaraf007]

any levels for crude and silver ???

For Crude: We have a Bullish WW on 5min TF...... It has successfully retested the Break of Trendline on 4Hour TF........ There is also a support from a Trendline of 1Hour TF at the same place.... So, its screaming "Get alert if you are SHORT"

 

[ayush2020]

For Crude: We have a Bullish WW on 5min TF...... It has successfully retested the Break of Trendline on 4Hour TF........ There is also a support from a Trendline of 1Hour TF at the same place.... So, its screaming "Get alert if you are SHORT"

thanx aditya,.... im long from 5300... let us see... :thumb:

 

[Maddy123789]

Hi,
m new to AB
n can some tell me how i can get the full data of infy
m having full eod of infosys n infy
what i have to do if i want infosys and infy data
some what like earlier infosys n infy data together..

 

[Sunny1]

Derivative Transaction is not considered as a Speculative Business under Income Tax Law......

And for carry forward of loss..... return should have been filed within due date..... it can be carried forward for 8 years if filed within Due Date...

yes its written law....but ...many stupids officers ....considered this as business income.

 

[adityasaraf007]

yes its written law....but ...many stupids officers ....considered this as business income.

Excuse me...... Derivative Transaction is a Business Income..... Period.....

Under Income Tax Act...... Business has two segregations:
1. Speculative &
2. Non-Speculative....

This segregation is important because of Set-off and Carry Forward.....

Derivative Transaction is considered as Non-Speculative Business.... (Guys there are other bells and whistles attached to it...... But under normal course, which we normally do..... it is a Non-Speculative Business).....

 

[adityasaraf007]

Hi,
m new to AB
n can some tell me how i can get the full data of infy
m having full eod of infosys n infy
what i have to do if i want infosys and infy data
some what like earlier infosys n infy data together..

Merge the data for both the securities..... If you don't know.... Google it out...... You should find it.....

Not feeling like putting up the whole tutorial right now....

 

[Kaboooooom]

We are all slaves to the - 10%, 20%, 30% ... (I presume most of us here are FnO traders here).
Thanks for all the info guys.

 

[adityasaraf007]

We are all slaves to the - 10%, 20%, 30% ... (I presume most of us here are FnO traders here).
Thanks for all the info guys.

You won't have to...... atleast you can do some Tax Planning..... if you presently trade thru a single a/c in your name..... then spread your Trading among the accounts in the name of your family members - your wife & mother (if they are Housewives) are the best choices.... If you are an Hindu, then you may form an HUF (Hindu Undivided Family)...... and see automatically, the Income is divided among 4 different entities instead of 1...... As you are presently consulting with a Tax Practitioner..... make good use of him.... ask questions to him...... And always file your returns in time if there are Losses to be Carried Forward......