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Income from share trading
what are the tax implications on income from shaare trading
Replies (8)
Business income ( Speculation )
If it is delivery based capital gain provisions attract. if non delivery based / intra day trading, it is a business income
What if f&o
What if f&o
as per sec 43(5) and explanations to it, f&o is not a spec business transaction and to be considered as a normal business income
And if there is loss from F&O and my total income exceeds basic exemption limit then whether audit id necessary?
Dear Hiten,
You are liable to tax audit u/s 44AB r/w section 44AD also aplicable since profit on F&O Transaction is less than 8% i.e you had incurred loss on F&O transaction. It is not matter whether your Total Income exceed basic exemption limit or not.
Regards,
Sujeet
Mr. Sujeet, tax audit is not applicable if a person having below taxable income.
CA. Kacham Shekhar
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