Set Off FnO Loss against Int on FD

Ravishankar K (Accountant) (458 Points)

13 March 2021  

Hi Guys, 

I got into trading in this year and have got huge loss. I am a salaried employee and also have earnings on FD Interest on which I pay tax. Can i set off the Loss which I had in trading (FnO -  Non Speculative)  against the Interest earned in FD. 

Amounts are quite big and it will help to reduce tax if I am able to set off the loss. Also i guess will need to file ITR 3 for this year.