Answer

1. F

   Facts

   Yes. F&O trading is business income, so you have income from business or profession. To use the old regime you must file Form 10-IEA by the due date. You also file ITR-3 rather than ITR-1 or ITR-2.

2. P

   Provisions and law

   • Sec 115BAC (now Sec 202)New regime is the default; business filers opt out with Form 10-IEA by the Sec 139(1) due date
   • Sec 139(1) (now Sec 263(1))Return must be filed by the due date for the year
3. A

   Analysis

   Many salaried traders miss this and lose the old regime because they treat the choice like an ITR-2 filer. Even a small F&O loss counts as business income. If you want HRA, 80C and home loan deductions, file Form 10-IEA before the ITR-3 due date, 31 August 2026 for non-audit cases for AY 2026-27. Check whether your turnover needs a tax audit, which changes the due date.

4. C

   Conclusion

   1. 1Confirm F&O or intraday activity in the year.
   2. 2Decide the regime by comparing tax.
   3. 3File Form 10-IEA by the due date if choosing the old regime.
   4. 4File ITR-3 quoting the acknowledgement.

General guidance from TaxSavvy’s library of money processes. Laws change; your Savvy confirms the answer on your exact case before anything is filed.