FOREX INCOME
This query is : Resolved
Guest
Guest
(Querist)
21 June 2011
Can any body tell me what is the tax treatment of forex trading income for a resident in india?
whether its a capital gain income or business income?
Thank You
whether its a capital gain income or business income?
Thank You
CA PARAS BAFNA
(Expert)
21 June 2011
It will be treated as Business Income, in case the income arises on Forex Transaction done as hedging for business imports.
If the transactions are not related with any business such income can be treated as IFOS.
However, Opinion of experts in this matter may be sought for.
If the transactions are not related with any business such income can be treated as IFOS.
However, Opinion of experts in this matter may be sought for.
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