Dear @Quicko team,
I am an employed/salaried individual. I had net losses in the last two years in F&O trading activity. I have been reporting them in my previous income tax filings (ITR-3) as losses under the old regime.
However, after the changes made to the new regime applicable wef. FY 2025-26, that is, AY 2026-27, new regime will save me more taxes than the old regime.
If I switch to the new regime in FY 2025-26, can I still use my Brought Forward losses to offset against the gains of the current year? Or will switching to new regime result in the lapse of all brought forward losses?
Please note, these are losses from F&O trading and not loss from house property.