Taxation for income from forex..

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  #1  
Old 19th May 2008, 12:47 PM
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Lightbulb Taxation for income from forex..



Hi forex experts...

can anyone tell me, the taxation details for income from forex trading via online forex trading platforms? how should we mention the income on our IT returns? Will it be treated as short term capital gains? or as bussiness income?

Thanx in advance.
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  #2  
Old 19th May 2008, 01:08 PM
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Default Re: Taxation for income from forex..

Quote:
Originally Posted by din_chan View Post
Hi forex experts...

can anyone tell me, the taxation details for income from forex trading via online forex trading platforms? how should we mention the income on our IT returns? Will it be treated as short term capital gains? or as bussiness income?

Thanx in advance.
Business Income.
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  #3  
Old 2nd June 2008, 12:46 PM
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Default Re: Taxation for income from forex..

any further info on which form should be used for filing return, and what category should we put the income into?
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Old 3rd June 2008, 08:32 PM
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Default Re: Taxation for income from forex..

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Originally Posted by din_chan View Post
any further info on which form should be used for filing return, and what category should we put the income into?
The form depends upon number of factors like your status as person and other sources of income you do have. Visit www.incometaxindia.gov.in to select the right form. Category of Income would be "Profits & Gains from Business or Profession".
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  #5  
Old 5th June 2008, 12:24 PM
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Default Re: Taxation for income from forex..

thanks for the reply, moneygurukul.
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  #6  
Old 15th June 2008, 03:44 PM
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Default Re: Taxation for income from forex..

Lucky me guys, there's no tax whatever gains I made. I mean, in my country off course(Indonesia). Goddamn it, I live in country with full of corrupt politicians.
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