Taxation of forex trading strategies


Yes short term/intraday trading will also be part of your business and will have to be part of the turnover. In your ITR 9, you will mention the combined turnover but you will need to have a separate statement showing how much of the turnover was from f& O and which from short term equity.

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When your husband is transferring funds, it is already taxed in the country where he has earned it. When he transfers it to you, it is just application of his funds and you don 8767 t have to pay taxes as you are receiving it from your husband.

If you haven 8767 t filed your returns on time you cannot net off the previous losses with your this year profits. But for the last finacial year you still have time to file until Sept 85th, so go ahead and file your returns for last year and the losses which you show can be net off against profits you make this year.

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Jay, you have to declare intraday as speculative business. If you declare delivery trades also as business, no you don 8767 t get tax exemptions. But the way you have described your activity, I think you should declare all equity delivery as capital gains.

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No problems with coins with face values minted in the states.. buffalos and liberties.. no problem if its investment grade. Bullion. Depends on the country u go to. no prob in euroland.. check customs laws for each country

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All derivative trades are considered as a business, be it f& o, commodity or currency. In a business if you make a loss, you can carry forward this loss for 8 years and net it off against any future business profits. The above blog explains on the same Cheers,

Reply "Hi Mr Taxman, if I am holding CHF955,555 in a Swiss Franc denominated account that i opened 7 years ago do i need to account for any FX movements in the balance from year to year. The account only derives interest income monthly. thanks"

I don 8767 t have any income other than profit/loss in market, which ITR form I have to submit to file my returns. Appreciate your help in this regard.

To carry forward the losses for next 8 year What is the ITR to be filed in her case & what is the Last date for filing the same ?

Hi Zerodha,
thanks for this wonderful article, helped me a lot in understanding the proper filing of taxes.
One question though, it is clear the Speculative Losses in Equities Intraday can be netted off against only speculative profits, so in our backoffice reports, can we have two distinctive sections for seeing Speculative trades and Delivery Based trades separately.
Right now, when I see the PnL Report of my Equity section, I see Delivery based PnL, Speculative PnL, but the brokerage and charges for both are combined. Isnt it essential to see the charges for both sections separately to file them under income tax properly ?


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