𝐓𝐚𝐱 𝐀𝐮𝐝𝐢𝐭 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐛𝐢𝐥𝐢𝐭𝐲 𝐟𝐨𝐫 𝐅𝐮𝐭𝐮𝐫𝐞𝐬 & 𝐨𝐩𝐭𝐢𝐨𝐧𝐬 𝐓𝐫𝐚𝐝𝐞𝐫𝐬
Taxation of F&O trading as non-speculative business: F&O trading is treated as non-speculative business income u/s 43(5) and is taxable at normal income tax slab rates, with expenses such as securities transaction tax, brokerage, and exchange charges allowed as deductions. Futures & options traders are generally required to maintain books of account u/s 44AA if …