Hi All,
I would like to know How futures and options are taxed?? and How Speculative transactions takes place(i.e., i need an example) and its taxation??
Thanks in advance.
Gudipati Roja (Audit manager) (131 Points)
17 April 2018Hi All,
I would like to know How futures and options are taxed?? and How Speculative transactions takes place(i.e., i need an example) and its taxation??
Thanks in advance.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(173732 Points)
Replied 17 April 2018
F&O trade is considered as a non-speculative business. Intra-day stock trades are treated as a speculative business.
To calculate gross income from F&O trades, take your transaction statement for the whole year. Look at your receipts; these may be a positive or a negative value.
Sum these up for the whole year. Expenses can be deducted from your gross income.
Refer: tax-on-derivative-trading
Master GSTR-9 and 9C with India's First Unique Live Course with Live practical training
LIVE Form 10 B and Form 10BB: Handle Tax Audit Reports of Charitable Organizations(without recording)
CAclubindia
