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?
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