I have 4 lakh F&O income this year, i have portfolio of 30 lakhs, this year short term capital gains will be around 5 lakh, LTCG around 3 lakh, as STCG is 20% can i show STCG as Business income to save taxes? Below 12 lakhs business income tax is 0.
Hey @Akshay_Gowda
If you trade frequently and consistently, and your main objective is to earn profits through buying and selling securities, the activity can be treated as business income.
You can also check out this post for more details on when capital gains can be reported as business income.
Hope this helps!