Add Income from Intraday and F&O

Add Income from Intraday and F&O

Intraday and F&O income refers to earnings from trading in stock markets—specifically from intraday trading (buying and selling stocks within the same day) and Futures & Options (F&O) contracts. These are considered speculative (Intraday) or non-speculative (F&O) business activities for tax purposes.

Since these involve frequent trading and an intent to earn profits, income from Intraday and F&O is taxed under the head “Income from Business or Profession.” This requires maintaining books of accounts and reporting turnover, profits, and expenses accordingly.

Things to Keep in Mind:

If you're trading in Intraday or F&O, your Tax P&L Report from your broker will help you determine:

  • Gross Revenue – Total sales value
  • Cost of Securities Sold – Total purchase value + Direct expenses
  • Turnover – Sum of absolute profit/loss from each trade

These details are essential for correct tax filing and for checking if a tax audit is applicable.

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Steps to Add Intraday and F&O Income Manually

  1. Navigate to File > Business & Profession > Add Business, then click Trading Securities – Intraday and F&O
  2. Select Add Manually to enter the trading details.
  3. Enter F&O Details:
    • Gross Revenue: Total sales value
    • Cost of Securities Sold: Total buy value (purchases) + direct expenses
    • Turnover: Sum of the absolute value of each trade under Additional Details
  4. Enter Intraday Details:
    • Gross Revenue: Total sales value
    • Cost of Securities Sold: Total buy value (purchases) + direct expenses
    • Turnover: Sum of the absolute value of each trade under Additional Details

💡 Not trading in Intraday or F&O? Just enter 0 for Sales, Purchases, and Turnover.

Steps to Add Intraday and F&O Income Manually

  1. Navigate to File > Business & Profession > Add Business, then click Trading Securities – Intraday and F&O
  2. Select Add Manually to enter the trading details.
  3. Enter F&O Details:
    • Gross Revenue: Total sales value
    • Cost of Securities Sold: Total buy value (purchases) + direct expenses
    • Turnover: Sum of the absolute value of each trade under Additional Details
  4. Enter Intraday Details:
    • Gross Revenue: Total sales value
    • Cost of Securities Sold: Total buy value (purchases) + direct expenses
    • Turnover: Sum of the absolute value of each trade under Additional Details

💡 Not trading in Intraday or F&O? Just enter 0 for Sales, Purchases, and Turnover.

Next Steps

If you're unsure how to proceed, these detailed guides will help you move forward:

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