if there is loss in futures & options trading then how to show in itr?
what all data will be required?
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Futures & options taxability
Replies (5)
Any income or loss that arises from the trading of Futures and Options is to be treated and considered as business income or business loss.
Income from F&O Trading is considered as a normal business income, normal provisions of the Income Tax Act will apply in this case.
Computation of Turnover in case of F&O Transactions for Tax Audit purposes
Profits from the trade
Loss from the trade
Premium received from sale of Options
In case of Reverse Trade, difference should also be added
For more details refer: https://cleartax.in/s/fo-trader-return-filing
&/or https://www.charteredclub.com/tax-on-fo/
Do we require to show account maintained?
Yes; but at the same time presumptive assessment u/s. sec. 44AD can be opted.
Income from F&O Trading is considered as a normal business income, profit loss can be shown as loss from business
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