Loss on F & O

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.