Nature of business under new regime for F&O

This query is : Resolved

Sachin Singh (Querist)
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23 June 2023 1) Hello, I'm filling under the new regime from this year onwards. I've only F&O income (ITR 3). For selecting nature of business, should I go with:

a) Financial Intermediation Services -> Investment Activities/Other Financial Intermediation Services n.e.c.
(Which one of the two?)

OR

b) Other Services -> Other Services n.e.c.

If it's some other option, please let me know. Also, didn't see code 09028 anywhere.

2) Also, I keep Mutual Funds, stocks, ETFs pledged with my broker & use that for Option Selling. Free cash is only around 5%. So, 'Proprietor's Capital' should include the pledged part or just the free cash?

Thanks.

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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23 June 2023 1. '09028' is applicable, which is available in the list.
2. Only the capital invested by you. The rest part can be overdraft/loan.

Sachin Singh

Sachin Singh (Querist)
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23 June 2023 Maybe should have mentioned but am talking about the form 10IE here. In that, which option should I choose?

Edit: Okay, I did find the 'Retail sale of other products n.e.c' in form 10IE under the 'Wholesale & retail trade' category, but it doesn't come up when I type 09028, hence couldn't find it earlier..

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Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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24 June 2023 Good luck for filing ....

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