Non-speculative treatment for agricultural commodity derivatives: CTT chargeability requirement removed, altering tax characterisation of such trades. The amendment disapplies the requirement of chargeability to commodity transaction tax for trading in agricultural commodity derivatives so that such trading shall qualify as a non-speculative transaction for income-tax purposes; the change inserts a proviso to clause (e) of the first proviso to clause (5) of section 43 and is made effective from the stated commencement date.
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Non-speculative treatment for agricultural commodity derivatives: CTT chargeability requirement removed, altering tax characterisation of such trades.
The amendment disapplies the requirement of chargeability to commodity transaction tax for trading in agricultural commodity derivatives so that such trading shall qualify as a non-speculative transaction for income-tax purposes; the change inserts a proviso to clause (e) of the first proviso to clause (5) of section 43 and is made effective from the stated commencement date.
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