SALARIED DOING TRADING IN FUTURES
This query is : Resolved
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.
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).
Income from futures & options is not speculative income as per exceptions of Sec.43(5).
CA Tilak Raj Sharma
(Expert)
16 February 2009
Use ITR 4
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)
Income from Futures is to be shown as Normal business income as per provisions of sction 43(5)
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