Hi,
I have incurred loss from Futures & Options Trade for FY 2017-18.
I am a salaried person.So I file only ITR-1
How can I get benefit of loss from F&O business as mentioned above.
Loss amount includes brokerage charges paid, STT, Turnover charges.
Can anyone suggest which will be the best course of action to take set-off or benefit of the loss I have incurred from F&O trade.
Depending upon your aggregate income of the year, you may be required to audit your F&O trading business accounts.
The loss cannot be adjusted against salary income, but from IFOS head, if any.
The remaining loss can be carried forward for next 8 years, which can be adjusted against gains from such business income.
Refer:: tax-on-f&o
CCI
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CAclubindia
