income tax on currency derivatives trading
This query is : Resolved
21 October 2017
I want to know how much tax is payable on income earned on currency derivatives trading..
can we consider this income under section 44AD.
how to save tax on business income.
pls clarify my queries..
thanks.
21 October 2017
Yes this income can be considered under section 44AD.
21 October 2017
thanks for replying my query...is there any obligation in Section 44AD that each year you have to declare income under 44AD.
2. can a individual trader doing currency derivatives trading claim under 44AD
21 October 2017
1 No such obligation but if you come out you can't opt for next 5 years.
2 Yes you can claim under 44AD.
2 Yes you can claim under 44AD.
21 October 2017
2. how much tax is payable for individual trader doing currency trading under section 44AD
21 October 2017
Work out the profit of 6% of turnover. Turnover is sum of profit plus loss and slab rate of tax applicable on profit so calculated.
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