Loss on Commodity Trading through Multiple Commodity Exchange in India

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Jacob Abraham (Querist)
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11 July 2024 Can we adjust the loss on commodity trading with the business profit or any other taxable profit in the year of loss?

Can we carry forward such losses after the current year adjustment and set off against future taxable profits

Is there any difference in taxability of the above in the case of Private Limited Company, Partnership Firm or Individual?

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
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11 July 2024 Yes, against any other business profit or any other income except salary.
Yes, up tp 8 years to be adjusted against any business profits.
No difference.

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