Currency Trading

#1
Hi,

1. I trade in currency derivatives in NSE. Is the tax treatment and accounting similar to equity F&O?

2. In ITR 4 what must be the code for nature of business. I trade in currency and equity F&O.

3. For expenses can I consider brokerage or only STT, Service tax etc?

4. For how many years can I carry forward loss from business?

5. How do i calculate amount of total stock in trade? If I have open position of 1 lot of Nifty on 31st March then is the total stock in trade closing price of Nifty future multiplied by 50?

Please respond to my queries.

Thanks!
 

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