Loss on F & O Activities
This query is : Resolved
02 June 2010
My client being an individual engaged in consultancy/advisiory services. besides these activities also he incurred/suffered loss on F & o activities of rs.35470/ during the period ended on 31.03.2010.
My query is whether the same can be considered as specutative loss or usual business loss for the purposes of being set off & carried forward as per I.t.Act.
My query is whether the same can be considered as specutative loss or usual business loss for the purposes of being set off & carried forward as per I.t.Act.
02 June 2010
F & O in shares will be treated as normal non speculation loss to be set of against profit from other business profit.
02 June 2010
agree u can set off with the income from other business.....
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