plz help regarding tax

[p.rahulganesh]

hi seniors,
i am trading in f&o, mcx
i have a query, for example if i had earned 10lakhs in a financial year thru f&o and mcx and in that same finanicial year i am buying a property for the same 10lakhs did i have to pay tax for both or any one??

plz help..

 

[canikhil]

hi seniors,
i am trading in f&o, mcx
i have a query, for example if i had earned 10lakhs in a financial year thru f&o and mcx and in that same finanicial year i am buying a property for the same 10lakhs did i have to pay tax for both or any one??

plz help..

you dont pay tax for buying property ...you pay tax if you make capital gains on selling of property.

F&O trades will get taxed as normal business income. depending on turnover, you may have the option of filing return under 44AD and save taxes.