F & O PROFIT REPORTING FOR AY 2026-27

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This discussion clarifies F&O profit reporting for a salaried individual over 60 with ₹78,000 in F&O profits for FY 2025-26. The advice is to report these in the Trading/P&L and Part A-BP sections of ITR 3. A Balance Sheet (Part A-BS) is required, and standard broker statements suffice for record-keeping. Schedule AL is not mandatory as the total income is under ₹1 crore.

Kaushik Roy

Kaushik Roy (Querist)

21 July 2026 The person is a salaried individual over 60 year with income from other sources. For FY 2025-26 only he has F & O Profit/ turnover of Rs. 78,000.00. Which schedule in ITR 3, he should report it -Trading or p/l account & BP?Required to fill BS? Total income apart from F&O is 65 lakhs in FY 2025-26. Is schedule AL mandatory? Mandatory to maintain books & account?

Kaushik Roy

Kaushik Roy (Querist)

21 July 2026 Pl. Reply urgently. Thanks in advance.

Aashok Kumar Sharma online

Aashok Kumar Sharma

(Expert)

21 July 2026 For a salaried individual over 60 with F&O trading profits of ₹78,000 and total income around ₹65.78 lakhs in FY 2025-26, report the trading details in the Trading/P&L and Part A-BP accounts of ITR-3, fill out the Balance Sheet (Part A-BS), maintain standard broker statements/books, and note that Schedule AL is not mandatory since total income is below ₹1 crore.

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