Essential guide for traders on F&O trading tax reporting

Quick Summary:

Intra-day trading must be treated as a separate business (speculative business) from F&O and its income/(loss) should be computed separately.

With the growing popularity of F&O trading in India, understanding the tax implications and reporting requirements has become increasingly important for both seasoned traders and newbies alike.

On the other hand, if the taxpayer has a profit equal to or greater than 6 per cent of the Trading Turnover, then Tax Audit is not applicable.

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Category: BusinessFinance

Markets: India

Topics: Income Tax Tax reporting ITR filing 2024 Stock Market Tax filing ITR filing Tax audit

Source Website Secure: Yes (HTTPS)

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Article Type: News Report

Published On: 2024-07-29 @ 17:59:43 (6 hours ago)

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News Source URL: business-standard.com

Language: English

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