Agricultural derivative transaction

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Querist : Anonymous

Querist : Anonymous (Querist)

13 March 2018 Finance Bill 2018 has made transactions relating to trading in agricultural derivatives which are not subjected to CTT as non-speculative.
Now, I have a loss in relation to a trade in agricultural derivative which I will show as speculative loss in my return of income of F.Y 2017-18 A.Y 2018-19 and carry forward it to the next year.
If from 1st April 2018, trading in agricultural derivative will be considered a non-speculative transaction. So, How will I set off my loss?
If my income from trading in agricultural derivatives will be non-speculative from 1st April, then will I have to forgo my loss?
Please help!

Nikhil Kaushik

Nikhil Kaushik (Expert)
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13 March 2018 well those losses will still be available for set off against other speculative incomes such as non-delivery based share trading etc.

Querist : Anonymous

Querist : Anonymous (Querist)

14 March 2018 I don't deal in other speculative transactions.
But will I be able to set off same identical income against identical loss?

Nikhil Kaushik

Nikhil Kaushik (Expert)
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14 March 2018 did not understand your question. But in case you are referring to set off past agricultural commodity derivative losses with similar losses in future- then, no, you won't be allowed to set off as the nature of the income/loss would change going forward on account of this amendment.

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