ITR F&o query

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DOING JOB
34 Points Posted on 27 July 2023
Hii

I had losses in F&O last year AY22-23 and filed ITR-3
For Current AY23-24 - I am not doing anything on F&O
Do i still need to file ITR-3 to carry forward that losses
or
is there a option to file ITR 1/2 with carry forward of that losses
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On 27 July 2023 at 21:59 Report
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Quick Summary
If you incurred losses in Futures & Options (F&O) trading last financial year (AY22-23) and wish to carry them forward, you are required to file an ITR-3 for the current financial year (AY23-24). Even if you are not actively trading F&O this year, filing ITR-3 is necessary for this process. It's not possible to carry forward these losses using ITR-1 or ITR-2. You will still need to complete the relevant sections of the ITR-3, even if you have no business activity to report for the current year.

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Semi Qualified CA
3208 Points Posted on 27 July 2023
Yes, you need to file ITR-3 for the current AY23-24 to carry forward the losses from F&O incurred in AY22-23. There is no option to file ITR 1/2 with carry forward of losses
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On 27 July 2023 at 23:17
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DOING JOB
34 Points Posted on 28 July 2023
But I am not doing any business(F&O) for this AY

what do I need to fill P&L and Balance sheet for this year in that case?
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On 28 July 2023 at 10:20

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