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Income from Trading of Securities

CA Naresh G. Patel (Executive) (44 Points)

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.

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3 Replies

Pankaj Arora (Learner) (3134 Points)
Replied 18 March 2011

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

C.A. Sandeep Wawhal (Chartered Accountant PGDFM BCom.) (1823 Points)
Replied 18 March 2011

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

umanath (-) (56 Points)
Replied 19 March 2011

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.