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Commision Income

This query is : Resolved 
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(Querist)
27 January 2011 We are partnership firm doing share trading business and receiving brokerage from our share broker. On other hand, v are also doing trading(Intra) in share in the name of our firm.

Can loss from trading businee be set off from brokerage received from share broker
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CA Shailesh Kumar Bhagat

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CA Shailesh Kumar Bhagat (Expert)
27 January 2011 No setoff ,since income from intra day trading is treated as speculation business.
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Guest (Expert)
27 January 2011 Agree with Mr. Bhagat
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