Itr query for stock market loss
This query is : Resolved
DEEPANSHI AGRAWAL
(Querist)
28 June 2013
Hi All,
I have a query on futures and options, if a person having a loss in F&O, so please tell me whether i show this loss under capital gain as short term Loss or under business head.
In this case what will be the treatment of STT?
Please members share your views..
Thanks in advance.
Regards,
CA. Deepanshi
I have a query on futures and options, if a person having a loss in F&O, so please tell me whether i show this loss under capital gain as short term Loss or under business head.
In this case what will be the treatment of STT?
Please members share your views..
Thanks in advance.
Regards,
CA. Deepanshi
CA PARAS BAFNA
(Expert)
28 June 2013
The loss is normal business loss. STT has to be treated as an expense.
.
.
DEEPANSHI AGRAWAL
(Querist)
28 June 2013
So in case of salary employee case, they claim as business loss and also claim STT..
CA PARAS BAFNA
(Expert)
28 June 2013
Now he is an assessee. Salary and Business Income are the 2 heads under which he will show his income. Business Loss can not be set off against Salary Income. He has to C/fd the loss .
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