Commodity profit
This query is : Resolved
AMIT O. GUPTA
(Querist)
08 August 2011
Whether loss in commodity is a business loss
CA. Anoop Gadia
(Expert)
08 August 2011
yes, it is treated as business loss.
AMIT O. GUPTA
(Querist)
09 August 2011
1) A private limited company has earned sahre profit u/s 50 of the I.T.ACT and also it has incurred commodity/share Future Trading loss. Can profit u/s50 to set off against Losses of Future Trading in shares/commodities?
2) Whether loss in shares/commodity future trading is treated as Speculative Business Loss?
2) Whether loss in shares/commodity future trading is treated as Speculative Business Loss?
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