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Agricultural derivative transaction



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 (Expert)
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)
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 (Expert)
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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