INTRA HEAD ADJ
This query is : Resolved
sumit bhartia
(Querist)
14 December 2008
I HAVE RECEIVED BROKERAGE INCOME AND ON THE OTHER HEAD I HAVE INCURRED LOSS IN DERIVATIVE TRADING
CAN THE TWO BE ADJUSTED
PLEASE HELP
CAN THE TWO BE ADJUSTED
PLEASE HELP
15 December 2008
As the Income from derivatives of stock market are non-speculative in view of the provisions of Section 43(5) of the Income Tax Act, the loss from one activity may be adjusted against profit from other activity(Refer Sections 70 to 72)
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