futures n options
prasad (government employee) (225 Points)
13 November 2018
whether the profit earned on futures n options is taxable? if so whether stcg or ltcg for the ay 2016
2 Replies
rama krishnan
(12244 Points)
Replied 13 November 2018
income earned out of futures and option are business income and it is taxable
Nitesh bind
(Student CA Final )
(12692 Points)
Replied 14 November 2018
Yes it will be taken as Business Income (ITR 4). All the normal provisions e.g. Books, Audit, Presumption etc will be allowed as per your total value of Transaction.
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