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speculation business
12-07-2004, 02:00 PM,
#1
speculation business
what is speculation business...i need an example

Ace
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12-08-2004, 06:18 PM,
#2
 
yaar kia nobody even know about Speculation Business... this term is used in income tax ordinance...but no example is quoted there...
bas itna likha hai...incomes and gains of speculation business are seprately taxable and other business incomes are seperately taxable...
so what is speculation business...

Ace
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12-12-2004, 08:14 PM,
#3
 
yaar i am asking again ...do we have any example of speculation business in Pakistan...agar nahin hai tou y this term is used in Income tax

Ace
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12-12-2004, 11:03 PM,
#4
 
<BLOCKQUOTE id=quote><font size=1 face="Verdana, Tahoma, Arial" id=quote>quote<hr height=1 noshade id=quote>
yaar i am asking again ...do we have any example of speculation business in Pakistan...agar nahin hai tou y this term is used in Income tax

Ace
<hr height=1 noshade id=quote></BLOCKQUOTE id=quote></font id=quote><font face="Verdana, Tahoma, Arial" size=2 id=quote>

Taking speculative views and positions on securities may be classified as speculative business. Otherwise, why don't you just contact tax authorities and get a clarification yourself. I think by doing that you would get a precise example and understanding of their rule.

DT

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12-13-2004, 03:55 AM,
#5
 
hi...yaar i have asked for an example...and the senior members of this forum must know about that...coz tax authorities mein bhi Chartered Accountant members hi hotay hain...n i think in this forum some ICAP members are present...so they must know about "speculation business"...balkay every person who has passed Module C must know about speculation business...

Ace
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12-26-2004, 11:23 PM,
#6
 
I have passed 2.3 of ACCA but still dont know abt Speculative Business.!!!!!!!

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12-28-2004, 07:09 PM,
#7
 
Yup Sawalat...thatz the real probem with our knowledge...like u have attempted 2.3 Taxation...but u dont know about Speculation Business...
The same is the case with other members on this forum...even some memvers on this forum are ACA and ACCA...but even they dont know about Speculation business....

Ace
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12-28-2004, 10:33 PM,
#8
 
Hi,
As regards speculative business, it will be in ACCA paper 3.7 that ACCA students will come to know abou it. SImilarly its a norm to place Finance in the final modue of any professional exam (because of the assumed knowledge required for the subject), where we come to know about speculative business.
Speculative business is where we only trade based on speculative prices. Its usually characterised by future prices (based on market assumption), and without taking physical control of the asset. Generally derivatives, comodity futures etctera fall in this definition.
Example Mr A sees that market for rice is rising sharply. He books 500 maunds of rice at a future date of three months and pays for it today. The hope or estimated future price here is a speculation. Before the date actually comes he may sell his future purchase or even hold it till maturity and actually sell after delivery day. He will rarely take phisical possession but only buy and sell in books. He may also trade on margin if its a option tradable commodity. Such is an example of speculative business. It also includes taji-mandi transactions.
I hope you folks have got an idea.


Thanks

Aamer Sikandar
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12-29-2004, 12:34 AM,
#9
 
<BLOCKQUOTE id=quote><font size=1 face="Verdana, Tahoma, Arial" id=quote>quote<hr height=1 noshade id=quote>it will be in ACCA paper 3.7 that ACCA students will come to know abou it. <hr height=1 noshade id=quote></BLOCKQUOTE id=quote></font id=quote><font face="Verdana, Tahoma, Arial" size=2 id=quote>

Thanks for the answer and specifically pointed the above referense out .
Thankss........

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12-29-2004, 04:45 PM,
#10
 
hi..Amirsikander...ur the first person who really clear the meanings of speculative business...thanks for ur reply

Ace
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12-29-2004, 07:04 PM,
#11
 
<BLOCKQUOTE id=quote><font size=1 face="Verdana, Tahoma, Arial" id=quote>quote<hr height=1 noshade id=quote> it will be in ACCA paper 3.7 that ACCA students will come to know abou it. <hr height=1 noshade id=quote></BLOCKQUOTE id=quote></font id=quote><font face="Verdana, Tahoma, Arial" size=2 id=quote>

This refers that there will be ataxation element in 3.7

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12-30-2004, 09:49 PM,
#12
 
swalat...paper 3.7 is a taxation paper...and is based on UK tax laws...

Ace
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12-30-2004, 11:38 PM,
#13
 
Isnt it Strategic Financial Management.... 3.7

I think Paper 3.2 is Advanced Taxation.

Not actually think but i am sure abt these papers...... Thanks

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12-31-2004, 05:17 PM,
#14
 
u are confused yaar...so will i make it confirm or ur going to confirm it, whether 3.2 is taxation or 3.7

Ace
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12-31-2004, 06:26 PM,
#15
 
<BLOCKQUOTE id=quote><font size=1 face="Verdana, Tahoma, Arial" id=quote>quote<hr height=1 noshade id=quote>
u are confused yaar...so will i make it confirm or ur going to confirm it, whether 3.2 is taxation or 3.7

Ace
<hr height=1 noshade id=quote></BLOCKQUOTE id=quote></font id=quote><font face="Verdana, Tahoma, Arial" size=2 id=quote>

No iam not confused at alll... I know it becaz n this semester i ws going to attempt this paper 3.2 Advanced Taxation but now i am going to leave it as an otpion and will attempt 3.1-- Audit and Assurance Services .

And without any doubt 3.7 is SFm-- Strategic Financial Managemtnt.

maani bhai u can pick any BPP book and see the list of papers in its last few pages... u will defeintely come toknow abt it and will clear ur views........... Thanks....,....

Ur comments......

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