Loss on F & O

Hi experts

 

F & O turnover 4 lakhs and loss 60 k.  How to show this loss in ITR 3 ?  No books of accounts.

Whether premium paid for option purchase will be treated as expenses ?

Experts please guide me. Am using winman software for filing return.

regards

P Narayanan

 

Replies (2)
Quick Summary
This discussion addresses how to report a £60,000 loss on a £4 lakh turnover from Futures & Options (F&O) trading within an ITR 3 form. The advice clarifies that such losses should be declared under 'Income from Business or Profession'. It also confirms that the premium paid for purchasing options can be treated as an expense, even without maintaining formal books of accounts, provided transaction records are available. The use of Winman software for filing is also mentioned.

You should report the Rs.60,000 loss from F & O trading under 'Income from Business or Profession' in ITR.

The premium paid for option purchases should be treated as an expense. Despite not having books of accounts, the loss can be claimed based on available transaction records. The Winman software should be used to facilitate the filing of the return, ensuring that the loss is correctly reported. 

Dear sir,

 

Thanks for your reply.

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