I have incurred Future and Options loss of 12 lakhs for FY 19-20, and turnover is around 3 Cr. Can I show this against my income and get a tax advantage?
Hey @Niraj,
F&O Trading is considered to be a non-speculative business income. You can adjust the loss against any income except salary income. Also, you can carry forward the remaining loss for 8 years and adjust against future F&O profits.
Hope this helps 
Dear sir I’m a retired person having about 7 lac rupees (about 5 lac after deduction u/s 80C etc.) as income from commission on sales of machinery, dividends and interest only in the FY’20-21. I had done options trading and incurred a loss of about 1.8 lacs but my turnover, derived by adding the options sale premium to the absolute value of profit or loss, is about 90 lacs. My CA has refused to file my ITR because I haven’t maintained any books of account that he could audit. Kindly advise/ help me as I’m a small trader trying to earn something out of the marker, though not successful so far.
Regards.