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.
Income from F& O and derivatives is business income and hence you have to file ITR-4….
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.
Gupta Sachdeva & Co. Chartered Accountants
New Delhi
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