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REGARDING NIFTY FUTURE & OPTIONS TAXABALITY

This query is : Resolved 
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(Querist)
17 July 2022 Whether Future & options charge under the head of PGBP or under the head of Capital Gains ?

If it is taxable under PGBP then can we set margin of 8% of turnover ?
And turnover will be the Net Gain/Loss of the F&O ( Sales - Purchase )

If it is taxable under Capital Gain then it will be taxable at flat rate of 15% ?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
17 July 2022 Future & options charge under the head of PGBP opt for 44AD on 6% of turnover.
Turnover is sum of gain and losses.
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Suresh S. Tejwani

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Suresh S. Tejwani (Querist)
17 July 2022 if an individual is a salaried person then also it will charged under PGBP ?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
17 July 2022 Yes, it will be PGBP.
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Suresh S. Tejwani

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Suresh S. Tejwani (Querist)
18 July 2022 What if we want to treat as capital gains ?
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CA R SEETHARAMAN

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CA R SEETHARAMAN (Expert)
18 July 2022 F & O can't be treated as capital gains.
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