08/07/2023
Taxation for F & O Trader :-
- Trades from F & O are considered as Business Income for Income Tax Purpose.
- Trader can claim direct expenses incurred on Trade against F & O Trades
- Turnover eligibility for Tax audit applicability to be carefully checked upfront.
- Turnover is calculated based on absolute basis ( Profit + Loss in absolute Gross terms without netting off each other)
- In case of Losses, if returns are filed before due date, Trader can carry forward loss to subsequent years.
- Normal business expenses can also be claimed as deduction if trading is the main activity
File your Return timely and avail benefits.
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