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Booking of f&o loss , which itr form is to be filed

459 views 3 replies

Ashok Dhabai

1 Points Posted on 24 August 2019

Dear hon'ble members,

Can you enlighten me about which ITR is to be used for AY19-20. I am retired executive and have pension Income only. But have F&O loss and other income as Rent, Capital gain on share intraday trading. Should I need to file ITR2 or ITR4. Wether Audit is necessary as there is net loss of over 6 lacs in F&O. Can I carry forward this loss for next 8 years.

Replies (3)

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

211758 Points Posted on 24 August 2019

ITR 3 needs to be filed. If aggregate income exceed basic exemption limit after eligible set off of losses, audit may be applicable.

Kapadia Pravin

17264 Points Posted on 24 August 2019

File ITR 3
Intra-day share trading will be your speculation loss to be shown under item 65 of P&L
F&O loss will be your business trading loss. Audit depends on turnover amount which is 1 crore under 44AB. If you show F&O under 44AD then Audit is must.

basanth

CA CS (FINAL)

102 Points Posted on 27 September 2019

Sir, Can you tell me how to disclose the details of F&O in ITR-3, say I have turnover from option - Rs 5,80,000 (loss + premium on sale) and from future i having loss of Rs 3,20,000 and from Intraday gain 4,80,000. Please clarify:

1) How to disclose the turnover of Option and loss from such option in ITR

2) How to disclose the turnover of future and loss from such future in ITR