I want to file it3 to report loss in FNO trading of 60k [business income],to carry forward the loss. I have no salary income, i did trading from my saved money of old years. my total income is below 2.5lac.
Please answer following point=
I have received 35k Rs from my cousin brother as gift, [which is below 50k], do i have to report this income in exempt income under itr3?
will showing this income will reduce Loss by 35k, so then i can only carry forward loss of [60-35]=25k? or can carry full loss 60k?