Nature of business under new regime for F&O
This query is : Resolved
23 June 2023
1) Hello, I'm filling under the new regime from this year onwards. I've only F&O income (ITR 3). For selecting nature of business, should I go with:
a) Financial Intermediation Services -> Investment Activities/Other Financial Intermediation Services n.e.c.
(Which one of the two?)
OR
b) Other Services -> Other Services n.e.c.
If it's some other option, please let me know. Also, didn't see code 09028 anywhere.
2) Also, I keep Mutual Funds, stocks, ETFs pledged with my broker & use that for Option Selling. Free cash is only around 5%. So, 'Proprietor's Capital' should include the pledged part or just the free cash?
Thanks.
a) Financial Intermediation Services -> Investment Activities/Other Financial Intermediation Services n.e.c.
(Which one of the two?)
OR
b) Other Services -> Other Services n.e.c.
If it's some other option, please let me know. Also, didn't see code 09028 anywhere.
2) Also, I keep Mutual Funds, stocks, ETFs pledged with my broker & use that for Option Selling. Free cash is only around 5%. So, 'Proprietor's Capital' should include the pledged part or just the free cash?
Thanks.
23 June 2023
1. '09028' is applicable, which is available in the list.
2. Only the capital invested by you. The rest part can be overdraft/loan.
2. Only the capital invested by you. The rest part can be overdraft/loan.
23 June 2023
Maybe should have mentioned but am talking about the form 10IE here. In that, which option should I choose?
Edit: Okay, I did find the 'Retail sale of other products n.e.c' in form 10IE under the 'Wholesale & retail trade' category, but it doesn't come up when I type 09028, hence couldn't find it earlier..
Edit: Okay, I did find the 'Retail sale of other products n.e.c' in form 10IE under the 'Wholesale & retail trade' category, but it doesn't come up when I type 09028, hence couldn't find it earlier..
24 June 2023
Good luck for filing ....
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