Hey @Pradeep_Kumar_S,
F&O trading is considered business income and hence you will have to file ITR-3. If your turnover exceeds ₹10Cr you also need to get a Tax Audit done.
Moreover as you will be reporting your trading profits as business income, you can claim various expenses incurred with regard to trading as a deduction. As business income is taxed at slab rates, you can also claim Chapter VI-A deductions like 80C, 80D etc. if you have made the relevant investments. I am linking some threads that may help you:
List of Expenses a Trader can claim
How are profits from intraday and F&O trading taxed?