AY 2026-27 discount ITR-3

Zerodha F&O tax filing.

Zerodha generates a Tax P&L report through Console that traders can use as the starting point for ITR-3 filing. The report follows the older ICAI Guidance Note (2014/2022) turnover method — which means AY 2026-27 filers on the GN 2025 method need to add back option-sale premium where it has not already been included.

Calculate my turnover Read the pillar guide

Zerodha's tax report is generated through Console. Follow the steps below; this is the canonical source for your ITR-3 filing.

1. Log in to Console at console.zerodha.com
2. Click on Reports in the top navigation
3. Click on Tax P&L
4. Select the Financial year
5. Select the quarter range and click on the arrow button
6. A segment-wise capital gains report is displayed
7. Scroll down and click on Download Tax P&L report for all segments

Source: https://support.zerodha.com/category/console/reports/taxation/articles/i-need-a-profit-and-loss-report-for-a-tax-audit-where-can-i-get-this-from

Every line in your Zerodha 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.

Zerodha report line	ITR-3 destination	Notes
F&O (Equity Derivatives) — Realised P&L	ITR-3 Schedule BP (Profits and gains of business or profession)	Treated as non-speculative business income under s.43(5) proviso (1961) / s.2(31)/(33) (2025 Act). Goes into the business head, not capital gains.
F&O — Turnover (per Tax P&L)	ITR-3 audit-applicability check under s.44AB	Zerodha computes turnover as absolute sum of profit and loss per contract (GN 2014/2022). For AY 2026-27 GN 2025, add option-sale premium not already netted.
Currency Derivatives — Realised P&L	ITR-3 Schedule BP (separate line within F&O business)	Same non-speculative treatment as equity F&O.
Commodity Derivatives — Realised P&L	ITR-3 Schedule BP	CTT-paid commodity derivatives are non-speculative; non-CTT trades are speculative — verify your Zerodha report segment.
Charges (brokerage, STT/CTT, exchange, SEBI, stamp, GST)	ITR-3 Schedule BP (deductible expenses)	STT on F&O is fully deductible as a business expense (unlike STT on equity capital gains).
Other credits and debits	Reconcile against ledger before claiming	Includes referral credits, charges reversal, etc. Verify line-by-line.

Absolute sum of profits and losses per contract (per Zerodha's Console Tax P&L). Per the broker, this follows the ICAI guidance note on tax audit under section 44AB.

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

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.

• Same year: F&O loss from Zerodha 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.

• Zerodha — How to download Tax P&L statement
• Zerodha — How turnover is calculated in Tax P&L
• Zerodha — Things to consider when filing taxes using Zerodha's reports
• Income-tax Act, 1961 — Section 43(5) (definition of speculative transaction)
• Income-tax Act, 1961 — Section 44AB (tax audit)