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F&O in ITR 3

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(Querist)
10 August 2023 ITR 3 is not taking negative figures i.e loss from F&O share in No Account Cases section of ITR. Also assessee is not liable to maintain book of a/c under 44aa as turnover and profit is less than prescribed limit. what is solution?
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
10 August 2023 You cannot book loss under 'No account case.' If you want to declare loss from F&O, file it with accounts details.
Moreover, now you cannot carry forward losses, under belated return.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
11 August 2023 Please enter F&O transaction details in Sl. No. 46 of Schedule PL – Part A – P&L Account and proceed.
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ghosh

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ghosh (Querist)
12 August 2023 however i dont think there is any provision of maintenance of books when there is loss u/s 44aa.
then why this compulsion??
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Aashok Kumar Sharma online

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Aashok Kumar Sharma online (Expert)
21 January 2024 https://incometaxindia.gov.in/tutorials/54.maintenance-of-books-of-accounts.pdf
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