Capital gain set off

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Jitendra (Querist)
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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

CA. Ronak Kapadia

CA. Ronak Kapadia (Expert)
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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.

Nikhil Kaushik

Nikhil Kaushik (Expert)
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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.

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