# The Finance Act, 2013, Section 118: Value of taxable commodities transaction

- Act: The Finance Act, 2013
- Ministry: Ministry of Finance
- Source URL: https://indiacode.ecourtsindia.com/finance-act-2013/section/118/

## Text

Value of taxable commodities transaction [Value of taxable commodities transaction. 118. The value of taxable commodities transaction referred to in section 117,— (a) | in the case of a taxable commodities transaction relating to a [commodity derivative or commodity derivative based on prices or indices of prices of commodity derivatives], shall be the price at which the [commodity derivative or commodity derivative based on prices or indices of prices of commodity derivatives] is traded; (b) | in the case of a taxable commodities transaction relating to an option on commodity derivative, [or option in goods] shall be— (i) | the option premium, in respect of transaction at [serial numbers 3 and 4] of the Table in section 117; (ii) | the settlement price, in respect of transaction at [serial numbers 5 and 6] of the Table in section 117.] [(iii) | the difference between the settlement price and the strike price, in respect of transaction at serial number 7 of the Table in section 117.] © Copyright. Taxmann Publications Pvt. Ltd.

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