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K Krishnamurthy (Sr.executive Vice President (Retired))     15 September 2013

Tax on pms profits

I have recently invested  with a broking agency who does portfolio management in Commodity Futures and pays me the profit every month. My query is whether this profit is capital gain or business income or Other Income?  I am a resident individual and filing returns in ITR 2 form. Please advise.



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 1 Replies

CA P Bokariya (PARTNER )     22 September 2013

usually PMS provider used to give you audited balancesheet and Profit and loss account at hte year end . so as per P&L you income will be determined . 


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