Is income from futures and options treated as business income or capital gains?
If it is a business income which income form should I file? Himanshu, Mumbai Income from futures, options and derivatives is called income from business and profession. People having this income will have to file returns in form no 4. I work for a private limited company. My income includes salary and savings interest. I am also paying interest for my home loan. Which is the income tax return form for me? Sudhir Gandhi, Ahmedabad Form no 1 is for only those who have income from salary or interest. You are repaying home loan and since the housing loan is taken as income from house property, you cant file tax returns in form no.1 if you want to claim tax deduction for the home loan. Therefore you file tax returns in form no 2. I am a retired person. My income is from pension, bank interest, tax-exempt RBI bonds and dividends. Which tax form should I fill? RK Bhatia, Delhi You should file your tax returns in form no 2. Fill in the column for salary income the details of salary and perquis
