Tax treatment of F&O income

General
1

How to decide if F&O income should be treated as business income or capital gains if you have a regular salary income as well? Does it depend on what percentage of your salary it is? If the F&O income is 1% of my salary is it okay to treat it as capital gains? What if it is 10%? I would like to avoid the complications that come with declaring business income.

Noobie

2

All you need to know about Markets and taxation - http://zerodha.com/varsity/module/markets-and-taxation/

3

Any F&O income has to be treated as non speculative business income. The link Karthik has posted, gives very nice explanation.

4

Thanks, Karthik and Tarzan. It looks like I will have to get familiar with ITR 4. Anybody doing this on their own, or is a CA required?