Losses in fno can be set off against rent income

I have seen a cleartax article which listed that house rent income can be set off against losses from fno.
I want to know if I have made 5 lacs profit in fno and expenses of salary is 6 lacs then there will be a loss of 1 lacs. Would I still be able to set off this 1 lacs since net profit after deduction of expenses is in negative.

Yes, you can set off loss of 1 Lacs with Rental Income.

Hey @pradeep_kalra

Yes, you can set off losses from F&O against house rental income.

The expenses that you can claim against F&O should be related to trading. After claiming those expenses if there is a net loss, it will get set off against the other income that you have except salary income. Loss remaining after set-off can be carried forward to the next 8 years. You can carry forward this loss in both regimes

Hope this helps!

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Thanks. It was wonderfully explained.

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