can i claim car emi expense in fno trading

Taxation
1

Dear Sir/Madam

I wanted to know if I can take EMI of the car as an expense from FNO trading because I travel to and from Office for trading purpose.

Thanks and regards

2

Hello @Sujeet_Jodha

All the expenses you incur for trading F&O can be claimed against the income since it is taxed under the head Income from Business & Profession.

EMI on car should be divided proportionally on the basis of use for travelling to office and personal use.

The part you use for office purpose can be claimed as expense.

Thank you

1 Like