F&O Loss Carry forward in New Tax Regime

Income Tax Income from Business or Profession
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1

Hi Team Quicko,

I am a salaried individual and have loss from F&O trading.

Could you please clarify if a F&O trader makes any Losses can it be carry forwarded to subsequent years if opted for New tax regime?

Also, so far I have used old tax regime and and carry forwarded F&O loss from last two years. If I opt for the New regime for this year, can the previous years losses carry forwarded with old tax regime be set off in future in new regime?

Lots of confusion around this and few article says its not possible to set-off or carry forward F&O loss in new regime. Please clarify.

Thanks.

2

Hey @Ram2000,

Losses from F&O trading can be carried forward even if you opt for the new tax regime.

Yes, the losses that have been carried forward in the previous FYs can be set-off against the profits regardless of whatever regime you choose.

Hope this clarifies.

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