Hello,
I have a query relating to the taxability of Options.
I am resident and ordinarily resident in India and will continue to be so.
I have earned approximately 2400 as derivative income in the current year.
12000 being the Sales Value of my option and 9600 being the cost price of my option. There is a 7 day gap between purchase and sale of the option.
I am a salaried individual and my age is 25.
My query being the amount of 2400 shall be taxed under which head?
I will do a maximum of 5 such transactions this year.
I have done multiple google searches and havent found a suitable solution.
Some of the websites state that it should be taxed as business income while some state that it can be taxed as Capital Gains.
Kindly provide some clarity in this matter. I basically want to know whether i can classify the same under capital gain.
Thanks
CAclubindia
