Mandatory Compliances Services
Trading has become a popular way of investment among taxpayers in the country. Commodities Transaction Tax is applicable for people dealing in trading of commodities. It is imperative that tax filing for traders be properly understood for efficient filing. Any profit made by trading of commodities has to be claimed on your income tax return and applicable taxes be paid to the authorities. No transaction charges are levied on commodity trading and CTT can be allowed as a deduction in the event the income from such transactions is part of a business income.
Commodity derivatives are traded on commodity exchanges, transactions is routed through commodity brokers and is regulated by the Forward Markets Commission.
CTT is imposed on the value of taxable commodities as:
- Sale of an option in goods or commodity derivative.
- Sale of an option in goods or commodity derivative, where the option is exercised.
- Sale of any other commodity derivative.
Why avail Bizpole Services
Bizpole is a leading ITR consulting services platform in India. Our experts can help simplify your Income Tax returns filing with the IT department. We handle Income Tax compliances with authorities and advisory services for all categories.Our charges are only a fraction of the price charged by offline chartered accountants making it cost effective for your business.
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