Comment on Taxation Simplified

Nithin Kamath commented on 09 Mar 2013, 08:44 AM

Thanks Amit for the words, for your queries now:

1. Yes no loss can be netted off against salary income.

2. Yes you are trading options, so you need to consider yourself as a trader.

3. Yes all profit/loss will be business income.

4. As a business when you buy laptop, internet device etc ,it is an asset for you and not expense. On an asset you can claim depreciation, for computer/other similar products the depreciation that can be used is 60%. so if you bought a laptop for 30k, you can show 18k as depreciation in the first year which can be added as expense.

5. No difference between intraday and positional option trading.

6. No loss can be net off against salary, it can be net off against income other salary..

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