Capital gain set off
This query is : Resolved
05 June 2014
My assessee has arise capital gain of 10 lac from hosue property he has got loss in commodity trading or share trading wheather the loss will be set off against capital gain from house property
05 June 2014
No sir, you cannot get the set-off of loss against speculative transaction .. your loss from commodity market comes under speculative market transaction loss so it will be eligible for set-off only against speculative transaction.
However please refer section for more clarity.
However please refer section for more clarity.
06 June 2014
Dear Jitendra,
if you are dealing in share and commodity derivatives, then the same wont be considered as speculative income. (refer section 43(5). In such a scenario, you will be able to set off.
if you are dealing in share and commodity derivatives, then the same wont be considered as speculative income. (refer section 43(5). In such a scenario, you will be able to set off.
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