Topic: Income from F&O in stocks

I am 36 and used to work in unorganised private sector till 2004. Then I quit and moved to stock markets and have incurred losses to the tune of 7 lacs till FY 2008-09. I have not filed my returns so obiviously, I cannot carry forward the losses. For FY 2009-10 I have a profit of Rs 1.4 Lacs and turnover in F&O above Rs 60 lacs.

Is it mandatory to file the IT returns for me and shall I have to get the returns audited by CA?

For FY 2010-11, I am expecting an income of 3+ lacs. Will income generated in my dmat a/c and my spouse's a/c will be clubbed for computation of income?

Hi,

i am sunithasharma

For FY 2009-10 I have a profit of Rs 1.4 Lacs and turnover in F&O above Rs 60 lacs. Is it mandatory to file the IT returns for me and shall I have to get the returns audited by CA? For FY 2010-11, I am expecting an income of 3+ lacs. give me some more information about this i want clear idea about this
thanks in advance

regards,

phe9oxis,

http://www.guidebuddha.com

i have an income of rs. 110,000 from f&o trading. i have no other income in the financial year 2010-11, what is my tax liability ?

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