What expenses can a trader claim while filing the ITR?

Income Tax Income from Business or Profession
145

i pay salary / commission to a person who helps me in trading e.g: giving tips etc ;
that person is not having certifications or any degree .

is this valid ?

146

Hi @HIREiN

If you can prove in case the ITD asks, that the person has the expertise, then it is valid.

147

I am a F&O trader, and I bought a new graphic card in February 2023. Can I claim the depreciation on graphic card next financial year? I still have the purchase receipt.

148

Hello @Radha_Krishna

F&O activity can be treated as a Business and thus you can claim all the expenses you incurred in relation to that business.

Since you bought a new graphic card in February 2023, if you are going to use the same for the F&O Business, then you can claim the depreciation on the same.

Its okay if you did not claimed any depreciation in FY 2023-24. You can start claiming the same from FY 2024-25 at the applicable rates.

To know more about - What all expenses a trader can claim, you can refer here.

Thank you.

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