Future & option share trading is speculation business or not
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
01 June 2012
Hi,
I am doing share trading in Future & Option during the F.Y. 2011-12. I have incurred some Loss during the fiscal, so I want to know about can I adjust this loss with speculative income?
Please guide me.
I am doing share trading in Future & Option during the F.Y. 2011-12. I have incurred some Loss during the fiscal, so I want to know about can I adjust this loss with speculative income?
Please guide me.
01 June 2012
yes you can adjust the loss
01 June 2012
Loss arising from trading in 'future and options' of shares are normal business loss as per proviso (d) to section 43(5 ) of the Income tax Act,1961. Such loss can be set off against 'speculation profits' in the same assessment year u/s 71 of the said act.
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