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Income Tax Return (ITR) for Future & Option (F&O) Traders

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CA Assisted Income Tax Return filing for Individuals and HUFs having income from F&O/ Derivatives Trading. Plan Includes Review of  F&O/ Derivatives Trading Statement  from  Single Investment / Demat Account . Review of Bank Statements Preparation of Profit & Loss Statemen t Preparation of Balance Sheet Review Brought Forward and Current Year Losses Income from Salary, House/Property, Capital Gains & other sources Filing Form-10IE to opt-in/opt-out for new tax regime Choosing a favorable option between the old tax regime and the new tax regime Chapter VI-A deductions - LIC, EPF, PPF, ELSS & other MFs, Medical, Principal on House property, etc. Determine Residential Status Documents Require PAN Aadhaar F&O Trading Statement Bank Statements Form 16 or 16A Investment Proofs Other supporting documents Who should Buy? Traders who have Single Investment / Demat Account. Self employed traders  having income or loss from F&O / Deriv...
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Brief Description of RBI

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Reserve Bank of India (RBI) is the central banking and monetary authority in India. RBI manages the country's money supply and foreign exchange and also serves as a bank for the Government of India and for the country's commercial banks. Banks can be broadly categorized into commercial banks, public sector banks, regional rural banks, private sector banks, foreign banks, co-operative banks, and term lending institutions, non-banking finance companies / housing finance companies. Public sector banks make up the largest category of banks in the Indian banking system. There are 28 public sector banks in India. After bank nationalization was completed in 1969 and 1980, the majority of Indian banks were public sector banks. In July 1993, as part of the banking reform process and as a measure to induce competition in the banking sector, RBI permitted entry by the private sector into the banking system. This resulted in the introduction of nine private sector banks. The Gover...
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Taxation of payment made for foreign software

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Question -  Whether the amounts paid by resident Indian end-users/distributors to non-resident computer software manufacturers/suppliers, as consideration for the resale/use of the computer software through EULAs/distribution agreements, is the payment of royalty for the use of copyright in the computer software, and that the same give rise to any income taxable in India, as a result of which the persons referred to in section 195 of the Income Tax Act are liable to deduct any TDS under section 195 of the Income Tax Act? Analysis: There cane be following 4 cases: Case 1 - Computer software is purchased directly by an end-user, resident in India, from a foreign, non-resident supplier or manufacture.  Case 2 - Resident Indian companies that act as distributors or resellers, by purchasing computer software from foreign, non-resident suppliers or manufacturers and then reselling the same to resident Indian end-users.  Case 3 - Distributor happen to be a foreign, non-resident ...
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