07 June 2010
I am a salaried person, doing some share market transactions in cash as well as F&O segment. Please advise as to the profit (if any) from the F&O segment and also from cash segemnt is to be treated as BUSINESS INCOME or INCOME FROM OTHER SOURCES?
08 June 2010
Thank you for your advise. But a bit more clarification. I had taken an advise from a CA, who informed me that the profit from F&O can be treated as BUSINESS INCOME, from cash segment can be treated as CAPITAL GAINS and the return can be filed using ITR 4 form and in the BUSINESS INCOME ward of IT dept. Kindly advise.
08 June 2010
It depend on the frequency of transactions. If it is a regular business same can be treated as business income and return may be filed using ITR4. But it cant be treated as capital gains.
CAclubindia
