Dabbled in F&Os? Making these tax filing mistakes can cost you dearly
More than 4.5 million people traded in equity F&Os in FY22, and they need to mandatorily file their (ITR) in the current assessment year, irrespective of whether they are individuals with total taxable income below the ₹2.5 lakh exemption limit or are salaried individuals.
Retail participation in the derivatives market exploded during the covid-19 pandemic. According to a report by the Securities and Exchange Board of India (Sebi), the number of individual traders in futures & options (F&O) soared by about 540% from FY19 to FY22.