Dear If u have lost any amount by trading in F&O or Intraday cash that is speculation loss( sharemarket). Speculation loss could be carried forward to next 8 years while filing the annual returns in ITO. In subsequent years if your recover/earn from the speculation( share market) only, then that could be set-off and the balance loss amount be carried to next 7 years and so on.
However if u have not declared the same while filing the return u have missed that and now when u have earned through FO then u need to pay the taxes at the applicable rates, by law. Kindly confirm the same and refer any book on IT Returns or consult any C.A Regards Vikas Srivastava 9235656797 --- On Thu, 2/9/10, santosh kumar bolukonda <[email protected]> wrote: From: santosh kumar bolukonda <[email protected]> Subject: Re: [T.S.R:15398] Info needed on Tax on Capital gains and Futures. To: [email protected] Date: Thursday, 2 September, 2010, 12:48 PM If F&O traded on any recognised exchange and paid STT for those transactions then they will not fall under speculation category. Regards Santosh On Thu, Sep 2, 2010 at 9:04 AM, mahesh jani <[email protected]> wrote: On Wed, Sep 1, 2010 at 2:17 PM, santosh kumar bolukonda <[email protected]> wrote: If you are showing the loss in F&O trading in ITR from last 2 years, you can adjust your previous year losses with current year profit, otherwise you cannot adjust and need to pay the taxes as per applicable income tax slabs, showing the profit as Income from business/profession. Regards, Santosh On Mon, Aug 30, 2010 at 7:54 PM, seenuvasarao inti <[email protected]> wrote: Hello Guys... I have been doing trading in futures and options since 2007. I have lost around 7 lakhs in 2008 and 2009 years together. I have recovered my lost money in the last and current year. Now do i need to pay any tax on profit??? Can any one help in explaining the tax rates on futures and options? ..heard that intraday trading means, its the kind of business. so we have to pay the tax as per the slabs. ..and also heard that, the lost money can be recovered in the next 7 years. is it true??? Plz explain if any one knows.. and also, i am the employee of software org. hence i fall under the catagiry of 20% slab rate with my income. -- AS PER MY KNOWLEDGE YOUR INCOME IS CONSIDERED AS SPECULATION INCOME, IF YOU INCURED LOSS IN EARLIER YEAR IT IS TO BE CARRY FORWORD FOR NEXT YEAR SUBJECT TO THAT YOU MUST HAVE FILED YOUR IT RETURN IN TIME.AND IT IS TO BE SHOWN AS LOSS CARRY FORWARD IN RETURN (REFER SECTION 73) AND LOSS C/F FOR ONLY FOUR YEAR. -- For Anything related with Stock market be Online at http://www.niftyviews.com/ Get free updates on your mobile phone. Sms "Join TSR " and send to 09223492234 FOR TRIAL STOCK/NIFTY/OPTION CALLS You received this message because you are subscribed to Google Group "STOCKRESEARCHER" group. To post to this group, send an email to [email protected] To unsubscribe email [email protected] for more info visit http://groups.google.com/group/STOCKRESEARCHER?hl=en-GB . This is Not a Spam Mail. Disclaimer :- "The opinions expressed by the members on this board are based on their individual experience and perceptions and to share information with other members with the best of intentions to help fellow members in investment decisions as equity investment is a risky venture." -- For Anything related with Stock market be Online at http://www.niftyviews.com/ Get free updates on your mobile phone. Sms "Join TSR " and send to 09223492234 FOR TRIAL STOCK/NIFTY/OPTION CALLS You received this message because you are subscribed to Google Group "STOCKRESEARCHER" group. To post to this group, send an email to [email protected] To unsubscribe email [email protected] for more info visit http://groups.google.com/group/STOCKRESEARCHER?hl=en-GB . This is Not a Spam Mail. Disclaimer :- "The opinions expressed by the members on this board are based on their individual experience and perceptions and to share information with other members with the best of intentions to help fellow members in investment decisions as equity investment is a risky venture." -- For Anything related with Stock market be Online at http://www.niftyviews.com/ Get free updates on your mobile phone. Sms "Join TSR " and send to 09223492234 FOR TRIAL STOCK/NIFTY/OPTION CALLS You received this message because you are subscribed to Google Group "STOCKRESEARCHER" group. To post to this group, send an email to [email protected] To unsubscribe email [email protected] for more info visit http://groups.google.com/group/STOCKRESEARCHER?hl=en-GB . This is Not a Spam Mail. Disclaimer :- "The opinions expressed by the members on this board are based on their individual experience and perceptions and to share information with other members with the best of intentions to help fellow members in investment decisions as equity investment is a risky venture."
