Experts,
A colleague of mine has gains of approx 50k from trading in index options. All the options positions were multi-day and not intraday, there were only 6-7 transactions during the FY and this is the first year in which he's started trading in Index options. He also has Salary, House property and Income from other sources and in the 30% tax rate bracket.
Need certain clarifications
- which ITR form to be filed for AY 2022-23? Until last year he was filing ITR2.
- under which head should the profits from options trading be disclosed? Would it make any difference if the number of trades is small i.e. only 2-3 during the year?
- any other things to be considered during return filing?
Regards,
Manas
CAclubindia
