- Is it possible to set off the Carry Forward F&O loss (F&O losses of previous financial year) with Short Term Capital Gains (STCG)of Current Financial Year?
- Is it possible to set off the Carry Forward F&O loss (F&O losses of previous financial year) with Intraday Equity Profit of Current Financial Year?
- I have to pay the advance tax. I suffered Shot term Capital losses and F&O loss in Last financial year. In the Current Financial, I have Short term Capital Gains (STCG). My question here is - Do i need to pay the Advance tax on the whole Short term Capital Gains (STCG) or Do i need to pay the Advance tax on the difference amount of Short term Capital Gains (STCG) of current year and losses of the last financial years
- Can i deduct the expenses while paying the Advance tax or will it be dedcuted at the filing of ITR.
Note::- I am a salaried person
Hi @rocky18,
No, once carried forward, F&O losses can only be set-off against business income in the subsequent years.
Yes, carried forward F&O losses will be adjusted against Intraday profits as both are business incomes.
You can take the losses into account and pay advance tax on the differential amount.
Expenses can be considered when you calculate your tax liability for making the advance tax payment.
Hope this helps!