Currency derivative loss
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 March 2012
Plese tell, can we adjust currency derivetive loss from derivate profit of FO.
Thanks
Thanks
15 March 2012
Currency derivative loss is 'speculative loss' where as profit on derivatives (F & O)is non-speculative. Set off is not permitted as a corollary to section 73 of the Income tax Act,1961.
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