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ITR for Options Trading

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Vikrant

75 Points Posted on 21 July 2023

Hi,

My wife is not a salaried person, however she has income from Savings bank, FD deposits and loss due to Options trading, which ITR form should be submitted for her?

Replies (2)

Quick Summary

If your wife has income from savings, FDs, and losses from options trading, she should file ITR-3. Options trading is considered a non-speculative business, and losses can be reported in Schedule BP. These losses can be set off against her interest income in the same year, with any remaining loss carried forward for up to 8 years. Be mindful of income clubbing rules if the trading was funded by your gifts.

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

121543 Points Posted on 21 July 2023

File ITR 3.

Aashok Kumar Sharma

Finance/Compliance Consultant

75646 Points Posted on 08 November 2026

Wife with interest income and options trading loss:
• Options trading (F&O) is non-speculative business. File ITR-3, reporting the loss in Schedule BP (turnover per ICAI GN: absolute profits and losses), and interest income under Other Sources.
• The F&O loss can be set off against interest income (Other Sources) in the same year (business loss can be set off against any head except salary). The balance is carried forward 8 years.
• If the trading was funded by money gifted by you (husband), income or loss from it is clubbed with your income (Sec 64(1)(iv)).
• File by the due date to carry forward losses.