Can we carry forward the brokerage along with the FnO loss?

Can we carry forward the brokerage along with the FnO loss?
FnO Loss = 1 lakhs
Brokerage for FnO trading = 1 lakhs

Can I carry forward 2 lakhs or only the loss i.e 1 lakh?

You can carry forward the entire loss of 2 lakhs

Thanks, and can the Brokerage also be offset against other income, STGC, and LTCG?

@Quicko Can you please confirm if we can carry forward the brokerage and also offset the same against other sources, LTCG and STCG?

Yes, as per Income tax provisions - you can set off the current year business loss arising from the brokerage from FNO Trading against LTCG, STCG, Income from other sources and Rental Income.

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Thanks @San78
When I try to file ITR3 in cleartax using zerodha report, it is only displaying the loss amount and not the brokerage amount. Also, it is not offsetting the brokerage amount with other income.

Any idea?

Not used Clear Tax; but it should offset.
Try using ITR-3 utility of Income Tax.

Hi @Jack_R, you can set off non-speculative business income i.e. F&O loss against all incomes except salary - which includes house property, capital gains, speculative business income & other sources.

I was asking about offsetting the FnO brokerage

@Jack_R, since you can claim F&O charges such as brokerage, clearing charges, exchange transaction charges, STT, stamp duty, GST, etc when filing ITR, you can deduct them from your gains and set off against any income except salary for the financial year. :slight_smile:

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