Setting of F&O loss

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Mr A incurred losses in Futures & Options (F&O) during FY 2021-22, which are treated as business losses. The query asks if these business losses can be set off against his short-term capital gains and income from other sources. The expert confirms that F&O business losses can indeed be set off against capital gains and income from other sources.

Suraj

Suraj (Querist)
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17 July 2022 Dear Sir / Madam,

Mr A has incurred losses in F&O during FY 2021-22. That loss would be treated as business loss. He is preparing P&L balance sheet. He also has short term capital gain and income from other sources.

Can he set-off this business loss against short term capital gain and income from other sources??

Kindly guide.

Regards,
Suraj