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SALARIED DOING TRADING IN FUTURES

This query is : Resolved 
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(Querist)
15 February 2009 LAST YEAR I WAS WORKING PART OF YEAR GOT FORM16 & DID TRADING IN FUTURES/OPTIONS.PL TELL ME WHICH ITR FORM NO TO BE USED & INCOME FROM FUTURES IS SPECULATIVE OR BUSINESS INCOME.REGARDS.
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CA Nitin Wadhwani

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CA Nitin Wadhwani (Expert)
15 February 2009 ITR-4 is to be filed.
Income from futures & options is not speculative income as per exceptions of Sec.43(5).
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CA Tilak Raj Sharma

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CA Tilak Raj Sharma (Expert)
16 February 2009 Use ITR 4
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CA.MANOJ LAMBA

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CA.MANOJ LAMBA (Expert)
16 February 2009 yes, ITR 4 has to be filled.
Income from Futures is to be shown as Normal business income as per provisions of sction 43(5)
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