Itr query for stock market loss

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DEEPANSHI AGRAWAL (Querist)
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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

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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28 June 2013 The loss is normal business loss. STT has to be treated as an expense.
.

DEEPANSHI AGRAWAL

DEEPANSHI AGRAWAL (Querist)
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28 June 2013 So in case of salary employee case, they claim as business loss and also claim STT..

CA PARAS BAFNA

CA PARAS BAFNA (Expert)
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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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