If I have a carry forward F&O loss from a previous year of about 10 million would I need to pay advance tax if my F&O profit in the first quarter of this year is about 1 million?
You need to pay advance tax if your estimated tax liability is more than ₹10,000. This tax liability is calculated after considering any brought-forward losses that you have.
Hence, in your case, the brought forward losses will be adjusted against the profits and there will be no advance tax liability.