Adjustment of f&o losses in itr

250 views 4 replies

I am trading in F&O and incurred a loss of Rs.2.20 lacs in FY ending 2017 where as my income from other business is 2.60 lacs which is not taxable. My CA has deducted the loss from F&O from my other income considering normal business transactions and filed a return for Rs.40000/- where as I have asked him to carry forward my loss to next year to which he is not agree.Please explain whether he is justified in setting off F&O losses from my other income which is not taxable and how I will avail benefit in case of income from F&O in the coming years.

From:satishchugh53 @ gmail.com

Replies (4)

Your CA is exactly correct, as the NET loss can only be carried forwarded after adjustment with current year income/s.

Yes. He is justified.

Dear Sir 

If the loss has been adjusted with my current year income (Rs.260000/- ) which was not taxable then how i will claim loss incurred in F&O in coming years.please advise

It is just different way of looking at the situation............. You think your income is 2,60,000/- but as per accounting methods NET total income of the year (clubbing all the heads of incomes) is just 40,000/-, which is below exemption limit........ As the loss were adjusted in the same year with other income heads, question of its carry forward doesn't arise.

Unless you accept the reality........ nobody will be able to solve your issue........

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 11 July 2026
Article

SNCO

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 28 July 2026
Article/Intern/Semi-Qualified/Fresher B.Com

VNSS & Co

Mumbai

Others

View Details
Company
ARTICLESHIP 10 July 2026
Article Assistant

N S Gokhale & Co

Thane

CA Inter

View Details
Company
23 July 2026
Semi qualified CA

Garg Bros & Associate CA

New Delhi

CA Inter

View Details
Company
23 July 2026
CA Inter

Vikram Jadhav and Company

Pune

CA Inter

View Details
Company
ARTICLESHIP 30 June 2026
2 posts Article assistant and Articleship completed students

Chirag N Shah & Associates

Mumbai

CA Inter

View Details
Company
ARTICLESHIP 30 June 2026
Article Assistant or Paid Assistant

VIKAS VERMA & CO

New Delhi

Others

View Details
Company
ARTICLESHIP 08 July 2026
Article internship

AJAY SINGH AND CO LLP

Thane

CA Final

View Details