Setting Off Trading Losses

Income Tax
1

I have FnO losses and STCG gains since I do the Covered Call Strategy in Nifty.

STCG is around 4L and FnO loss is 3L.

Can this be set off against each other.

Also, in an imaginary situation where I have income from a property that is rented out, lets say I earn 3L in rental income. Can I set this off against my FnO loss of 3L?

2

Hey @J_G

Your F&O losses can be set off against all incomes (except salary) in the current FY. Once carried forward, they can only be set off against either F&O or intraday trading profits.

For more details, you can refer to this post.

Hope this helps!