Guidence on taxation of future & option trading

Trading in F & O is considered as a normal business.

Turnover will be addition of all net positions ( Profit + Loss )

You may file ITR without Audit if 8% profit is declared on turnover

The turnover threshold limit for f&o trading is 10 crores (since there's no cash component involved in excess of 5% in either expenses or receipts). unless you declare income under 44AD, there's no requirement to offer 6 or 8% as total income. further there's no requirement to audit your books. you can simply show the loss incurred from f&o trading without auditing

@ Shubham Patel,

You may refer Section 44AB ( FA 2022) for further guidance if you are filing ITR for AY-2023-24

Pls post your transaction.