Income Tax From Futures And Option Earning

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

27 January 2011 Hi Experts

In past 6 months I have earn good money by trading in index futures and option segments. I trade in NSE only. So now I want to know how much tax will be calculated on this income. And how i can pay this tax. Please suggest.

Regards
Neeraj

Aditya Maheshwari

Aditya Maheshwari (Expert)
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27 January 2011 trading in index futures and option segments is non speculation business income taxable at slab rates.

YOu can pay advance tax if the tax liability is more than Rs. 10,000/-.

Querist : Anonymous

Querist : Anonymous (Querist)

28 January 2011 Hi Aditya
Is paying advance tax is necessary or i can pay in last week of march

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Aditya Maheshwari

Aditya Maheshwari (Expert)
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28 January 2011 Pay before 15th march.