Sir, I am regular speculator in NSE & BSE . I want to know how to calculate the derivatives gains/loss for Income Tax purpose .Is it business income ?

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Someone Asked on This blogYes its business income from FY 2005-06 as per Section 43(5) of the I T Act.The computation of P & L is same as that of any business .Deduct all expense related to the derivative transaction from the gains or loss on derivative trades. As far as STT is concerned ,…

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