Where do I download my Upstox F&O tax P&L?

Pro Web (pro.upstox.com) → Reports → Tax P&L → choose FY → Download. The Pro Mobile app also offers the same option under Account/Profile → Reports.

Is Upstox F&O income speculative or non-speculative?

Non-speculative business income under the proviso to s.43(5) of the Income-tax Act, 1961 (s.2(31)/(33) of the 2025 Act from AY 2026-27). Reported in ITR-3 Schedule BP.

How are Upstox brokerage and STT treated for tax?

Both are fully deductible from F&O business income. STT on F&O is treated differently from STT on equity capital gains — for F&O it is a deductible business expense, not a tax-credit input.

Do I need ITR-3 just because I traded F&O on Upstox?

Yes — any F&O activity, regardless of broker, requires ITR-3 (or ITR-4 under presumptive 44AD if eligible; ITR-3 is the safer choice).

Where do I download my Upstox F&O tax P&L?

Pro Web (pro.upstox.com) → Reports → Tax P&L → choose FY → Download. The Pro Mobile app also offers the same option under Account/Profile → Reports.

Is Upstox F&O income speculative or non-speculative?

Non-speculative business income under the proviso to s.43(5) of the Income-tax Act, 1961 (s.2(31)/(33) of the 2025 Act from AY 2026-27). Reported in ITR-3 Schedule BP.

How are Upstox brokerage and STT treated for tax?

Both are fully deductible from F&O business income. STT on F&O is treated differently from STT on equity capital gains — for F&O it is a deductible business expense, not a tax-credit input.

Do I need ITR-3 just because I traded F&O on Upstox?

Yes — any F&O activity, regardless of broker, requires ITR-3 (or ITR-4 under presumptive 44AD if eligible; ITR-3 is the safer choice).

AY 2026-27 discount ITR-3

Upstox F&O tax filing.

Upstox traders access F&O tax reports through Pro Web (web back-office) or the Pro Mobile app. The report bundles realised P&L, charges, and turnover — but Upstox, like most Indian brokers, follows the older ICAI Guidance Note (2014/2022) turnover method, which AY 2026-27 filers should review against GN 2025.

Calculate my turnover Read the pillar guide

How to download your Upstox F&O Tax P&L

Pro Web / Pro Mobile

Upstox's tax report is generated through Pro Web / Pro Mobile. Follow the steps below; this is the canonical source for your ITR-3 filing.

Log in to Pro Web at pro.upstox.com (or open the Upstox Pro Mobile app)
Open the Reports section (typically under Account or Profile)
Select Tax P&L or Profit & Loss Statement
Choose the financial year
Click Download — the report is generated as a PDF or Excel
Email-delivery may be used for large reports; check your registered email

Source: https://help.upstox.com/

Field map — Upstox report → ITR-3

Schedule mapping

Every line in your Upstox Tax P&L corresponds to a specific ITR-3 schedule or working. Use this table when you (or your CA) transcribe numbers from the broker report into the return.

Upstox report line	ITR-3 destination	Notes
F&O Realised P&L	ITR-3 Schedule BP	Non-speculative business income (s.43(5) proviso).
F&O Turnover	ITR-3 audit applicability check under s.44AB	Verify methodology in the report cover note. Industry default is GN 2014/2022 (absolute sum of P&L per contract).
Charges — Brokerage, STT, Exchange, SEBI, Stamp, GST	ITR-3 Schedule BP (deductible)	All charges are deductible business expenses.
Trade-wise data	Audit working papers / scrutiny defence	Keep the trade-wise sheet for at least 7 years per s.139(8A)/268A retention norms.

Turnover method — what Upstox uses

Not publicly stated by broker

Upstox does not publish a detailed methodology document. The default industry practice is ICAI GN 2014/2022 — absolute sum of profit and loss per contract.

Editorial note

Cross-check the turnover number in your Upstox Tax P&L against ICAI GN 2025 if you are filing for AY 2026-27 onward. GN 2025 includes option-sale premium where not already netted.

See the F&O turnover hub for the full GN 2025 methodology, and use our turnover calculator to cross-check the number in your Upstox report.

Upstox-specific gotchas

Real issues

Pro Web vs Pro Mobile — same backend, different UX

Reports are generated from the same backend regardless of which interface you use to download. Pro Web is more convenient for filtering and copying data into a spreadsheet.

Charges in Upstox plans changed over time

Upstox has revised brokerage plans across years. Verify the per-trade charge applicable in the relevant FY against your contract notes before claiming expenses.

Cross-segment turnover aggregation

Equity F&O, currency derivatives, and commodity derivatives are separate report sections. For audit applicability, aggregate all three under "F&O business" — the s.44AB turnover threshold applies to the business as a whole, not per segment.

Audit applicability under s.44AB

Same rule, every broker

The s.44AB audit test does not vary by broker. It depends on your aggregate F&O business turnover (across all brokers), the 5% cash-receipts/payments rule, and your s.44AD history. A loss alone is not the audit trigger.

Run the audit applicability checker or read the F&O tax audit hub for the full decision tree, including the s.44AD(4) 5-year lock-in trap.

Loss set-off and carry forward

s.71 / s.72

Same year: F&O loss from Upstox can offset business income, house property, capital gains, or other sources — not salary.
Carry forward: 8 assessment years, only against future business income.
Mandatory: file the loss return on or before the s.139(1) due date. Late = no carry forward.

See F&O loss hub and the set-off checker.

Frequently asked questions

Where do I download my Upstox F&O tax P&L?: Pro Web (pro.upstox.com) → Reports → Tax P&L → choose FY → Download. The Pro Mobile app also offers the same option under Account/Profile → Reports.
Is Upstox F&O income speculative or non-speculative?: Non-speculative business income under the proviso to s.43(5) of the Income-tax Act, 1961 (s.2(31)/(33) of the 2025 Act from AY 2026-27). Reported in ITR-3 Schedule BP.
How are Upstox brokerage and STT treated for tax?: Both are fully deductible from F&O business income. STT on F&O is treated differently from STT on equity capital gains — for F&O it is a deductible business expense, not a tax-credit input.
Do I need ITR-3 just because I traded F&O on Upstox?: Yes — any F&O activity, regardless of broker, requires ITR-3 (or ITR-4 under presumptive 44AD if eligible; ITR-3 is the safer choice).

Citations

Sources

Other brokers

Trade on more than one platform?

Your ITR-3 aggregates F&O across all brokers — never one return per broker.

All broker guides

Pillar guide

The full F&O tax method

Income classification, ICAI GN 2025 turnover, s.44AB audit, ITR-3, and loss carry-forward.

Read the pillar