Proviso to Section 43(5) provides a list of transactions which shall not be deemed to be 'speculative' transactions.
A new clause (e) is inserted in proviso to Section 43(5) wef assessment year 2014-15 to provide that trading in commodity derivatives carried out in a recognised association shall not be treated as 'speculative' transaction. For this purpose, an eligible transaction means:
(a) Any transaction carried out electronically on screen-based system through a member registered for trading in commodity derivatives under the FCRA;
(b) Transaction is supported by a time stamped note issued by such member;
(c) The contract note should indicate unique client identity number, unique trade number and PAN.