F&O tax by segment.
NSE, BSE, currency, commodity, index options, and stock options all roll into one business-income filing picture — but each segment has a different reconciliation trap.
Segment guides
Tax + turnoverNSE F&O
NSE F&O income is non-speculative business income under s.43(5) proviso. Report it in ITR-3 Schedule BP. Compute turnover using ICAI guidance, not total contract value or margin.
BSE F&O
BSE F&O profits and losses are reported as non-speculative business income in ITR-3. Aggregate BSE turnover with NSE, currency, commodity, and other F&O activity before testing s.44AB.
Currency derivatives
Exchange-traded currency derivatives are normally reported as non-speculative business income in ITR-3. Add their P&L and turnover to your aggregate F&O/business turnover before testing audit applicability.
Commodity derivatives
Commodity derivatives traded on recognised exchanges and satisfying the statutory conditions are generally treated as non-speculative business income. Report in ITR-3 and keep CTT/contract-note evidence.
Index options
Index option profits and losses are non-speculative business income. Report them in ITR-3. For AY 2026-27, turnover must handle favourable/unfavourable differences plus option-sale premium where not already netted.
Stock options
Single-stock option trading is generally non-speculative business income reported in ITR-3. If an option results in delivery, separately track the share acquisition/sale leg according to your books and holding intention.