Advance tax + Futures and options
This query is : Resolved
Kaushik Kamat
(Querist)
12 June 2021
I have came to know that futures and options transactions are shown under the head PGBP..
As their is lot of uncertainty in earning profit and loss, I would like to ask---
1) whether i am eligible to pay advance tax on profit earned on F&O?
2) Is section 234C is levied if I donot pay advance tax on time?
3) we know that in case of capital gain we have benefit of not paying advance tax within due date. whether such benefit is available in case of F&O (PGBP) also?
Please answer with relevant provisions and judgements
Thank You in advance
As their is lot of uncertainty in earning profit and loss, I would like to ask---
1) whether i am eligible to pay advance tax on profit earned on F&O?
2) Is section 234C is levied if I donot pay advance tax on time?
3) we know that in case of capital gain we have benefit of not paying advance tax within due date. whether such benefit is available in case of F&O (PGBP) also?
Please answer with relevant provisions and judgements
Thank You in advance
Dhirajlal Rambhia
(Expert)
24 September 2021
1. Yes
2. Yes.
3. No such benefit for trading in F&O (even to senior citizen)
2. Yes.
3. No such benefit for trading in F&O (even to senior citizen)
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