I am new in trading world. And started trading just a year back and didn't know about tax much. So I have some queries, if you can answer me, it'd be really helpful for me.
I don't have any job or any business. I am just a student. And my father is salaried employee. So I took 5 lacs from him, which I used for trading in future segment.
Because of this, I am in doubt.
Do I need to show 5 lacs in my income tax filing as income from other source or not?
I have made some money around 1 lacs till now and my future turnover is around 11 lacs (Based on zerodha). So do I need to pay income tax on this 1 lacs income or this would be considered as my father's income and he need to pay income tax?
And I have some spent some money in trading workshops, internet bills etc., can I count them also when filing income tax?
I have loss around 1 lacs in my trading account and 2 lacs in profit. So net profit is 1 lacs. Can I carry forward my loss of 1 lacs in belated tax filing?
Thanks in advance.