r/IndiaTax•
OutsideLog1454

Please help. Tax advice for FnO .

Hello there everyone. I am just 26 y old. Never done option trading in my life but tried in the year 2024-25 and ended up making losses.I also earn from business ( grain selling) .Now I want to file itr . But there is so much confusion regarding audit . Whether I need to do audit or not. So I am giving you all the data . Please help me.

Business income from grain selling -341550 Interest from savings bank- 1146 Gold bond interest - 3235.62 LIC annual premium 2 policy - 54356+89347=143703 Gift from father - 88500 Gift from mother - 157279 Income tax refund previous year- 6101 Net loss from option trading ( only buying) - 574936.87 ( incl all govt charges and brokerage).

Total turnover of option buying trading- 11,11,444.51. ( Across three brokers)

These all data are for the year 2024-25. Please help me. Someone who is learned about this. How to file ITR. AND PLEASE TELL ME IF I NEED AN AUDIT FOR THIS.

PLEASE

Posted Jul 19, 2025, 7:54 PM UTC

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