Offseting F&O loss with short term equity gains & Tax audit

Hi,

I needed some clarity on taxes on F&O trading. I have a loss of around 5 Lacs in F&O and a gain of 3 Lacs from short term equity. I wanted to know if I can offset the 5 Lacs loss with 3 Lacs gain from equity? Will I need to pay 15% tax on short term gain or it can be offset with loss from F&O.

I also want to know do I need a tax audit if I want to carry forward the net loss of 2 Lacs.

If anyone can suggest me what is the applied case here and guide me which plan to opt on quicko for filing my return with this scenario, it will be really good.

Thank You

A post was merged into an existing topic: Offset of losses from derivatives trading