Income tax from f&o trading

Dear Amalendu,

The income from F&O transactions will be taxed as business income.  Whether any tax liability is there or not, shall depend on your total income. 

With regards to tax return, you can file ITR4/ITR-4S depending upon your total income, turnover etc.

You can contact us for professional assistance in this regard.

Agreed with Nikhil...................

Sir,

I am a trader.  I want to know the turn over calculation for income tax.  I did the calculation as given below.

1. Derivative Future : Total of Profit & Loss (ie., Proft = 25000 Loss = 25000 , turnover = 50000)

2. Derivative Options : Total of Profit & Loss (same way as did in Future)

3. Derivative Options : Total of the sale value of options

4. Equity Cash : Total of sale value.

Please help me.

Thanks