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futures & options

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(Querist)
25 August 2009 The loss on FNO , whether could be adjusted against other business income?
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CA CS Bhumika Thakkar

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CA CS Bhumika Thakkar (Expert)
25 August 2009 no..F & O is without delivery..so it cums under speculation..and cannot be adjusted against business income..
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
25 August 2009 Eligible transactions on futures and options carried out in a recognized stock exchange is not a speculative transaction. Ref:- proviso (d) of section 43(5) of The Income tax Act,1961.
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vijay singhal

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vijay singhal (Expert)
25 August 2009 yes, as it is not a speculative transaction
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Ankur Garg

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Ankur Garg (Expert)
25 August 2009 Agree with Warrier Sir.
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