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F & o loss

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Querist : Anonymous

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Querist : Anonymous (Querist)
21 May 2014 Hi,

During FY 2014-15 , I have Net Loss of INR 65000/- approx from F & O transactions.

My turnover during the period is around 4 lakhs.

Whether maintaining books & audit of same will be required for claiming & carry forward of F & o Loss

Thanks...
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Rupesh Jain

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Rupesh Jain (Expert)
21 May 2014 you are doing speculation business
can carry forward for 4 years and set off agst speculation income.
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Querist : Anonymous

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Querist : Anonymous (Querist)
22 May 2014 Thanks... But will be audit compulsory for claiming f & o loss
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