F&O reporting in ITR
This query is : Open
28 July 2026
I am an individual trader having only F&O trading income. My F&O contract/sale value is ₹64 lakh and I have incurred a net F&O loss of ₹1.17 lakh, which I want to carry forward. Will tax audit become applicable merely because I have incurred a loss? If tax audit is not applicable, while filing ITR-3 should I report my turnover as the ₹64 lakh contract/sale value or as the F&O turnover computed as per the ICAI Guidance Note (absolute profit/loss method)? Also, how should I correctly report the turnover and business loss in ITR-3, and which schedules should be filled to ensure the loss is validly carried forward to subsequent years?
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