F & o
This query is : Resolved
06 December 2013
F & o Loss Can be Setoff against Normal Busines???
06 December 2013
F & O loss is speculative business loss, so such loss is not setoff with business loss
06 December 2013
F & O loss is speculative business loss, so such loss is not setoff with business loss
06 December 2013
As per Section 43(5) of the Income Tax Act, 1961 speculative transaction means a transaction in which a contract for the purchase or sale of any commodity including stocks and shares is settled otherwise than by the actual delivery or transfer of the commodity or scrips.
However, trading in derivatives, referred to in Section 2(ac) of the Securities Contracts (Regulation) Act, 1956, carried out on a recognised stock exchange is not deemed to be a speculative transaction. Recognised stock exchanges are NSE, BSE, MCX Stock Exchange, and the United Stock Exchange of India. The transaction will be treated as ‘Non-speculative business income'.
F & O Loss of Currency and Share is not speculative loss
but F & Loss in commodity -- Speculative Business Loss
However, trading in derivatives, referred to in Section 2(ac) of the Securities Contracts (Regulation) Act, 1956, carried out on a recognised stock exchange is not deemed to be a speculative transaction. Recognised stock exchanges are NSE, BSE, MCX Stock Exchange, and the United Stock Exchange of India. The transaction will be treated as ‘Non-speculative business income'.
F & O Loss of Currency and Share is not speculative loss
but F & Loss in commodity -- Speculative Business Loss
06 December 2013
F & O Loss of Currency and Share is not speculative loss but F & Loss in commodity -- Speculative Business Loss
07 December 2013
I AGREED ARYENDRA SIR
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- GSTR-1A How to update Invoice
- Excess salary payment.
- TDS on Purchase of Immovable Property by NRI from NRI
- Capital gain from sale of house property
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- Stamp Paper for partnership firm change new income tax 2025
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- Regarding TDS Applicability For Director Remuneration
- SFT Cash Deposit in Current Account
- Annual return in Gst
- TDS APPLICABILITY......
- Copyright software
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
