Which Income tax form to select to file returns for trading shares / derivatives
Which Income tax form to select to file returns as I am trading both equities and derivatives? I have incurred profit and loss in both segments. How to carry forward derivatives loss to future years? more
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Mr Mohan Raj, Which income tax form? Our technologies have given us the ability to participate in understanding our international tax laws. I am an accountant living in the US. Before attempting to answer significant questions, we should first establish the parent country from where these questions originate. If you could state from which country you are obligated to file your taxes. Here I will use this scenario as if I am filing taxes in the US: Depending on whether the tax payer is either an individual or a corporation. An individual usually will use schedule B, a work sheet designed to guide the tax payer with their profit and expenses concerning investment actions. The US 1040 first establishes the time frame of holding certain securities and bonds. Short term is considered a holding anytime less then a year, and is taxed at a higher rate. Whereas, the longer term, over one year, allowing a much smaller tax expense on positive earnings, encouraging longer investments. On 06/18/2018 09:20 PM, Mohan Raj wrote: > more
Jun 19
Jay, You are the first non-Indian I have seen on Local Circles - welcome:) The questions raised in Local Circles tend to assume India as the country. more
Jun 20
Since derivatives and day tradings are business trade, hence IT form is applicable for business income. more
Jun 19
