Intra day & Futures and options -Trading

[VIGNESH]

Sir . income from, Intra day & Futures and Options -Trading,

1. to be treated as Business income or Speculative income

2. How to calculate Turnover for the above trading ?

3. if a NRI person does the above trading will taxability be different from normal indian assessee?

AI Summary

Tax treatment of trading: whether intraday and F&O receipts are speculative or business income, and how turnover is computed. Classification of income from intraday and futures and options trading concerns whether receipts are treated as speculative income or as business income, and the method for computing taxable turnover for such trading activities, including which receipts and expenses to aggregate for assessment; additionally whether taxability differs for a non resident Indian undertaking identical trading activity.