I trade in Forex market I trade in currency USD Jpy eurousd GbpUsd

My tax slab is less than 1 lakh . I trade in Forex currency USD Jpy eurousd GbpUsd . I have to pay income tax return or not . My tax slab is less than 1 lakh
I have to pay income tax return or not . Basis exemption rule apply or not . My tax slab is less than 1 lakh

@Sakshi_Shah1 can you help ?

Hi @atulkumar,

It is always a good practice to file an ITR, especially after the various partnerships with the ITD including SEBI to avoid notice. In case your total taxable income is less than the basic exemption limit there won’t be any tax liability.

I want to know crypto currency and Forex currency are same or not

I trade in Usd Jpy eurousd basic exemption rule apply or not on Usd Jpy eurousd . I trade with octafx . I have to pay income tax return or not my tax slab is less than 1 lakh
Basis exemption rule apply or not in currency market I trade with octafx . I trade in Usd Jpy eurousd

@Sakshi_Shah1 can you help ?

Hi @atulkumar

Crypto currency trading is different than forex trading. Forex trading has the same tax treatment as currency trading. It is considered a non-speculative business income, profits are taxed at slab rates and loss can be set-off and carried forward. You can read more about it here