Derivative - F&O Loss Set off

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Monil Shah (Querist)
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21 September 2009 Whether derivative transaction is treated as speculative transaction?

I think it is not as speculative transaction?

If no,Profit & loss from trading in F&O ie Derivatives can be adjusted against normal profit & loss in Business income?

Whether there is any particular section or case law in Income Tax which deals with the above case?

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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21 September 2009 As per proviso (d) to sub clause 5 of section 43 of The income tax act,1961, trading in derivatives is not a speculative transaction. Therefore, loss arising there from can be adjusted against other business income.

CA CHINTAN AJMERA

CA CHINTAN AJMERA (Expert)
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21 September 2009 Agree with expert

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