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futures n options
whether the profit earned on futures n options is taxable? if so whether stcg or ltcg for the ay 2016
Replies (2)
income earned out of futures and option are business income and it is taxable
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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