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Bussiness income

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(Querist)
13 September 2010 Trading in shares, derivatives is it speculation bussiness or not. Profit on trading can be adjust against regular bussiness.
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CA.Mini

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CA.Mini (Expert)
13 September 2010 trading in derivatives is kept out of speculative nature.profit from speculation business cannot be adjusted against normal business profits.
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CA. BIJENDER KR. BANSAL

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CA. BIJENDER KR. BANSAL (Expert)
14 September 2010 Agreed trading in shares and derivatives is specualtion business,
Prfoit on speculation can't be adjusted with any other loss and vice-versa
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VINOD ARORA

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VINOD ARORA (Expert)
14 September 2010 I would like to add that w.e.f. FY 2005-06,the trading in derivative segment through stock exchange has been taken out of the definition of Speculative transaction .
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CMA Arif Farooqui

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CMA Arif Farooqui (Expert)
25 September 2010 agreed and continuing...
loss from speculative business can be set off against speculative business income only.
balance loss if any, can be carried forward for maximum of 4 years.
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