I think i will end up with a loss from option trades this year. Premium received from options is 80,000 and loss from option trade is 25000. i have interest income of 425000.Can i opt for presumptive income from option trade and include 8% 0f 55000 as income and pay tax instead of audit.KIndly advice
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Presumptive income
Replies (3)
Yes..... you can
Thank you Sir for your reply. Have a further doubt. In future years if I make profits more than 8percent will I still have to file under presumptive tax scheme or can show more. I read the section for presumptive tax which specifies that for next five years I would have to continue under presumptive tax scheme. I am a bit confused
Even under presumptive scheme you can declare profit more than 8%, no restriction on upper side.........
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