F & O trading and intraday training overall loss

I am a part time trader. I do mostly F & O and intraday trading. My overall P& L is in loss of say (less than 10K.) + if i include bussiness expenses will be around 10K.
total = 20K loss

Is it still advised to carry forward the loss as the cost of filling the return and audit would not be able to justify the loss occurred?

any suggestions?

Hi @TUSHAR,

It is always advisable to report all incomes and financial transactions when filing your ITR. It reduces the chances of getting a notice from the income tax department, especially after the SEBI and CBDT partnership.

When you report your losses, it allows you to carry them forward and set off against future gains. You can also claim expenses that are related to your trading such as brokerage, internet, transfer expense, etc.

You can use this tool to determine if tax audit is applicable to you

Hope this helps :slight_smile:

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