Can FnO traders opt for Presumptive Scheme?

Is there a provision that FNO traders cannot opt for presumptive taxation scheme? If I have a few FNO transactions and incurred a loss, do I need Tax audit ? And what if I opt for presumptive taxation scheme and show a 8% profit as per section 44AD audit does not apply.

Hi @Kiara,

An F&O Trader can opt for Presumptive Taxation Scheme under Section 44AD. You cannot avail the benefit of Section 44AD if you are a Non-Resident in the financial year. Read more about Section 44AD - Presumptive Taxation for Business on our Learn Center.

Hope this helps :slightly_smiling_face: