Comment on Notice under Section 139(9)? - Possible reason

Nithin Kamath commented on 29 Jun 2013, 08:34 AM

Hi Anjani,

1. Yes digital signature is mandatory. The cost of digital signature though has dropped today to as low as Rs 500, but yes you would have to take the effort of applying for it.

2. According to us, Currency trading similar to f&o trading on equity/commodity can be considered as a business income.

We don’t think that having STT or no STT is a condition for a certain type of trading to be speculative or not. In case of commodities also it was clarified by the finance act, 2013 that it is non speculative, even though there is no STT/CTT involved.


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