Going With The 60min Flow!!!
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Re: Live discussion Saint's - 60 minute flow
Income Tax law is not clear on this issue. If there is any kind of speculation it is deemed business income. But if derivatives are used as an investment/hedging vehicle then it can be considered as short term gain/loss.
I know of a case in Bangalore where a guy had made significant amount using derivatives. Initially he had filed as short term gain and income tax department raised an issue. Finally, the guy won the case on the grounds that he held positions for couple of days to weeks.
My CAs opinion is that if the positions are held for more than 2-3 days those can be treated as short term gains and the remaining ones as business income.
Hope this helps
Nitin
ps: I have filed my losses in F&O as short term loss. This was accepted by income tax department. Short/Long term losses can be carried forward for 8 years and offset in any of the 8 years against Short/Long term gain. Hopefully with 60 min I will get to use this benefit
Income Tax law is not clear on this issue. If there is any kind of speculation it is deemed business income. But if derivatives are used as an investment/hedging vehicle then it can be considered as short term gain/loss.
I know of a case in Bangalore where a guy had made significant amount using derivatives. Initially he had filed as short term gain and income tax department raised an issue. Finally, the guy won the case on the grounds that he held positions for couple of days to weeks.
My CAs opinion is that if the positions are held for more than 2-3 days those can be treated as short term gains and the remaining ones as business income.
Hope this helps
Nitin
ps: I have filed my losses in F&O as short term loss. This was accepted by income tax department. Short/Long term losses can be carried forward for 8 years and offset in any of the 8 years against Short/Long term gain. Hopefully with 60 min I will get to use this benefit
Last edited:
Re: Live discussion Saint's - 60 minute flow
Derivatives are always Business Income (no matter for what duration). Equity Intraday is Speculative Income.
Income Tax law is not clear on this issue. If there is any kind of speculation it is deemed business income. But if derivatives are used as an investment/hedging vehicle then it can be considered as short term gain/loss.
I know of a case in Bangalore where a guy had made significant amount using derivatives. Initially he had filed as short term gain and income tax department raised an issue. Finally, the guy won the case on the grounds that he held positions for couple of days to weeks.
My CAs opinion is that if the positions are held for more than 2-3 days those can be treated as short term gains and the remaining ones as business income.
Hope this helps
Nitin
ps: I have filed my losses in F&O as short term loss. This was accepted by income tax department. Short/Long term losses can be carried forward for 8 years and offset in any of the 8 years against Short/Long term gain. Hopefully with 60 min I will get to use this benefit
I know of a case in Bangalore where a guy had made significant amount using derivatives. Initially he had filed as short term gain and income tax department raised an issue. Finally, the guy won the case on the grounds that he held positions for couple of days to weeks.
My CAs opinion is that if the positions are held for more than 2-3 days those can be treated as short term gains and the remaining ones as business income.
Hope this helps
Nitin
ps: I have filed my losses in F&O as short term loss. This was accepted by income tax department. Short/Long term losses can be carried forward for 8 years and offset in any of the 8 years against Short/Long term gain. Hopefully with 60 min I will get to use this benefit
Re: 60min Flow Trades for the Week: Saint's Method
We don't use AFL for this method, most stuff are visual. People using AFL's claim this method don't work, but basically they don't fit all the rules into their backtesting, probably use just zig function in TS and do false claim.
I would advise you to go to mother thread of 60 min flow and read through rules to understand this method.
We don't use AFL for this method, most stuff are visual. People using AFL's claim this method don't work, but basically they don't fit all the rules into their backtesting, probably use just zig function in TS and do false claim.
I would advise you to go to mother thread of 60 min flow and read through rules to understand this method.
Re: 60min Flow Trades for the Week: Saint's Method
Great charts and discussions, thanks Pattel ( note the capital P),neeraj,Columbus,Bee,Sri...., Thank you for responding to my request and coming out with charts and discussions which will certainly help newcomers in understanging and gaining confidence in trading this method.
Thank you once again....all wonderful people with great minds.... I am fortunate to be amongst you all .
Best Wishes,
Smart_trade
Great charts and discussions, thanks Pattel ( note the capital P),neeraj,Columbus,Bee,Sri...., Thank you for responding to my request and coming out with charts and discussions which will certainly help newcomers in understanging and gaining confidence in trading this method.
Thank you once again....all wonderful people with great minds.... I am fortunate to be amongst you all .
Best Wishes,
Smart_trade
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