Your income tax queries answered: F&O losses, HRA for parents, and foreign share gains
Under the Income Tax Act, F&O transactions are considered non-speculative business transactions and can be offset against long-term capital gains. HRA exemption only applies to rent paid for the employee’s own residence, not for dependent parents. As an Indian resident, global income is subject to taxation, including capital gains from foreign shares. Unlisted shares are also subject to LTCG tax.