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Reetika Sharma |642 Answers |Ask -Follow

Financial Planner, MF and Insurance Expert - Answered on Oct 11, 2025

Reetika Sharma is a certified financial planner and CEO of F-Secure Solutions.
She advises clients about investments, insurance, tax and estate planning and manages high net-worth individual’s portfolios.
Reetika has an MBA in finance from the Institute of Chartered Financial Analysts of India (ICFAI) and an engineer degree from NIT, Jalandhar.
She also holds certifications from the Financial Planning Standards Board India (FPSB), Association of Mutual Funds in India (AMFI) and Insurance Regulatory and Development Authority of India (IRDAI).... more

Question by K on Aug 26, 2025Hindi

Money

I have F&O loss of 75K. this amount can be setoff against the deposit income while filing ITR 3 returns under which code.

Ans: Hi,

You can setoff loss from F&O against 'Income from Other Sources' in ITR 3. But this loss cannot be setoff against Salary Income.

Let me know if you need more help.

Best Regards,
Reetika Sharma, Certified Financial Planner
https://www.instagram.com/cfpreetika/

DISCLAIMER: The content of this post by the expert is the personal view of the rediffGURU. Users are advised to pursue the information provided by the rediffGURU only as a source of information to be as a point of reference and to rely on their own judgement when making a decision.

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1. I have opt to file ITR-3 return under the new Tax regime for F.Y. 2024-2025 (A.Y. 2025-2026) 2. I have Short Term Capital Gain & Normal Business Loss, Income from house property & Other Sources of Income during the year (Gross Total Income is Rs. 6.25 Lacs) 3. I want to set-off business loss against short term capital gain instead of automatic set-off of business loss against House Property Income or Income from Other sources as per ITR online utility. 4. But online utility is not allowed to the set-off of business loss against short term capital gain. 5. Because of the above adjustment I have to pay income tax on Short term capital gain due to rebate u/s 87A is not considered for capital gain even though my total income is less than 7 Lacs. I would like to know that, is it mandatory to set-off of current year business loss against other income first then short term capital gain later as per Income tax act.

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