Derivatives
This query is : Resolved
01 August 2014
what are the provisions relating to taxation of derivatives? m totally blank abt derivatives n hv an case where client trades in derivatives..is it simply taxed like capital gains or what?
01 August 2014
Derivatives will not be taxed as capital gain but will be taxed as business income.
02 August 2014
1. as seetharaman said, it will be taxed as business income
2. if the turnover is not more than 1 cr, section 44AD will apply.
3. to claim profit less than 8% of turnover or loss, you need to do the tax audit.
2. if the turnover is not more than 1 cr, section 44AD will apply.
3. to claim profit less than 8% of turnover or loss, you need to do the tax audit.
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