Loss on F&O and Intraday equity

This discussion clarifies whether losses from Futures & Options (F&O) and intraday equity trading must be declared in ITR3. The consensus is that losses must be declared in the current ITR to be set off or carried forward, and cannot be deferred to future tax periods. While the ITR3 utility can be tricky, losses are typically calculated by inputting turnover and purchase values under the business head.