Commodity Transaction Tax

[Ashutosh Chhawchharia]

Whether Commodity Transaction to be treated as Speculative or Non Speculative Transaction?

AI Summary

Commodity tax proposed for non-agricultural futures, trading in commodity derivatives treated as non-speculative and CTT deductible when income is business
Proposal to impose a Commodity Transaction Tax (CTT) on non agricultural commodities futures at the same rate as equity futures, excluding agricultural commodities. Commodity derivatives trading is to be treated as non speculative, and CTT paid will be deductible when income from such transactions is included in business income.