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Income from Trading of Securities

ITR Filing 736 views 3 replies

CA Naresh G. Patel

Executive

44 Points Posted on 18 March 2011

I am having Income of Daily trading i.e.F&O ,equity cash and delivery base equity transactions for the year 2009-2010.

i want to know under which head F&O ,equity cash is to be taxable and under which head gain arise out of sale of equity shares to be taxable

what is the procedure to prepare it Return

Please advise me.

Replies (3)

Pankaj Arora

Learner

3134 Points Posted on 18 March 2011

Income from F& O and derivatives is business income and hence you have to file ITR-4….

C.A. Sandeep Wawhal

CA PGDFM BCom

1831 Points Posted on 18 March 2011

Income from Intra-day trading is treated under income from business and profession, hence you have to file ITR-4.

Income from F&O is always Business Income and Intraday Income is Speculative Income. In case of other, if you held the shares as Investments then the Inome is treated as Capital Gain(either Long Term or Short Term) and if you held the shares as stock, then the Income is treated as Business Income.