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Carry forward & set off

This query is : Resolved 
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Guest

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Guest (Querist)
30 August 2011 Loss From Normal Business B/f 2,00,000
This year gain from
speculative business 5,00,000



Can a B/f loss from normal business be set off with speculative income in succeeding year.
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Ravikant

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Ravikant (Expert)
30 August 2011 NO, speculative loss can be set off only against speculative profit
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Guest

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Guest (Querist)
31 August 2011 I was asking about c/f normal business loss against speculative business profit
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Ravikant

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Ravikant (Expert)
31 August 2011 normal business loss can be set off against speculative business profit
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