The current year’s profit from FnO trading was a little less than the last year’s carry-forward loss, i.e. let’s say the carried-forward loss was 100k and this year’s profit was 98k.
So in the “Adjustment of above losses in schedule BFLA”, I can see 98k, which is correct, but the “Total Loss carried forward to future years” is showing 0, shouldn’t it be 2k?
Is there a rule change that I am missing? is there a limit to what minimum loss one can carry forward?
(I am not sure if this should have any effect on this but FYI, some asset depreciation are claimed).
It’s a software bug in the ITR utility. Please use the latest version 1.1.3 and your issue will be resolved.
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F&O trading loss is considered a non-speculative loss.
Yes, your understanding is correct. It should show 2k to be carried forward as FnO loss can be carried forward for 8 years.
However, in the future, they can only be adjusted from non-speculative income.
As rightly said by @Praksy try using the latest version of the utility.
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