Share market income tax calculation

[Guest]

Hello,

A software professional makes a revenue of 20lakhs in a year. Will use 44ada for this.
So profit is at 10lakhs.

She also does share trading.
Intraday profit: 1lakhs.
Short term capital Loss: 2lakhs.
Future and Options Loss: 3lakhs.

She used margin trading, so she was charged interest of total 2.5 lakhs.

How does this work? Which losses can be carried for how many years so it can cover next years profit(if any).

Also, where can this margin trading interest be deducted from?

Thanks for your help.

AI Summary

Loss carryforward rules for trading and margin interest: which trading losses qualify and where interest is deductible. A taxpayer using the presumptive professional scheme reports presumptive profit and separate share trading results: intraday profit, short term capital loss, futures and options loss, and margin trading interest. The core issues are classification of trading losses as capital or business, rules for set off and carry forward of those losses, and the head(s) of income against which margin trading interest may be deducted.