ITR FNO

Process

From broker statement to a workpaper your CA can interrogate

The point is not to hide tax work behind a black box. It is to organise the available evidence, show the arithmetic, and make unresolved questions impossible to miss.

Scope: ITR FNO produces automated, source-linked workpapers for CA review. It is not an e-filing service, legal opinion, tax audit, or substitute for your chartered accountant. Your CA decides the tax position and files the return.

The four-stage workflow

1. Provide the source files

Share the supported broker Tax P&L and the additional records requested for your case. A broker report alone cannot establish bank balance, every capital movement, presumptive-tax history, or the correct tax position.

2. The workpaper is prepared

Deterministic extraction and cross-checks organise turnover, realised results, charges, ledger balances, and opening positions. Labels are matched by text; missing inputs become visible flags rather than invented values.

3. Figures retain their source

Each reported amount points to a broker sheet and label, or to a stated formula. Speculative intraday and non-speculative F&O results remain separate, and the balance sheet is not forced to tally with a plug.

4. Your CA reviews and files

The output is a preparation aid, not a return or recommendation. Your CA resolves flagged judgments, completes missing facts, decides whether audit or presumptive provisions apply, and files through the official utility or chosen software.

What a broker workbook can and cannot prove

Often availableUsually needs another source or judgment
Futures/options realised profit and ICAI-method turnoverCash and bank balances outside the broker ledger
Intraday profit, turnover, and chargesCapital introduced versus drawings
Broker ledger opening/closing balances and open positionsSection 44AD history, 5% cash test, and audit conclusion
Delivery trades requiring classification reviewWhether delivery activity is investment or business

Built around review, not certainty theatre

Warnings cover missing cash balances, income without turnover, unexplained capital movement, charge allocation, gross-receipts interpretation, and delivery trades. A blocker means the available evidence is not enough to complete the relevant figure safely. A review item means the CA must document a position.

The current F&O path has been exercised with synthetic fixtures matching real Zerodha workbook layouts, but has not yet been validated against paired real F&O statements and CA-finalised ITR-3 figures. We disclose that limitation rather than presenting the tool as tax-engine output.

Continue your research

Start with the AY 2026-27 ITR-3 guide, then read how F&O turnover differs from contract value and why tax audit cannot be decided from turnover alone.