https://v2.webnotes.in/tags/non-speculative/Recent content in Non-Speculative on WebNotesHugoen-INFri, 19 Jun 2026 00:00:00 +0000https://v2.webnotes.in/how-to-declare-fno-business-income/Tue, 12 May 2026 00:00:00 +0000https://v2.webnotes.in/how-to-declare-fno-business-income/<aside class="callout callout--warning" role="note"> <strong class="callout__label">Informational only, not tax advice</strong> <div class="callout__body">This guide explains the statutory framework and procedure for declaring F&amp;O income. It does not constitute tax advice. Individual circumstances, trading volumes, expense eligibility, and audit requirements vary. Consult a Chartered Accountant before filing.</div> </aside> <p>Futures and options (F&amp;O) trading on a recognised stock exchange is treated as <strong>non-speculative business income</strong> under the Income Tax Act 1961. This classification has significant practical implications: F&amp;O losses can be set off against other heads of income (except salary), carried forward for eight years, and deducted against future business profits. This guide explains the statutory basis, the correct method of computation, allowable deductions, and how to report F&amp;O income in <a href="https://v2.webnotes.in/itr-3/">ITR-3</a> .</p>