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Fno loss
how to show Fno and intra day loss in ITR -3 without maintaining books and audit
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Quick Summary
What is turnover & Profits earned in each?
F&O and intraday losses without books and audit:
• F&O (non-speculative) and intraday (speculative) losses are reported in ITR-3 under Schedule BP, using "No account case" details (turnover, gross profit, expenses, net profit) if books aren't required.
• Books are required if income exceeds Rs 2.5 lakh or turnover exceeds Rs 25 lakh (Sec 44AA). If your turnover (absolute profits and losses per ICAI GN) is below these, no books needed.
• Audit only if turnover exceeds Rs 10 crore, or under the 44AD(4) lock-in.
• Carry forward the losses (file by the due date).
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