13 September 2010
trading in derivatives is kept out of speculative nature.profit from speculation business cannot be adjusted against normal business profits.
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
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 .
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.
CAclubindia
