Loss on future and options

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ANKITA JAIN (Querist)
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10 August 2014 Whether a loss in future and options (one time) is short term capital loss under head capital gain anf whether it can be set off against other head of income? ??????????

CS,CA F,Numrologi TusharSampat

CS,CA F,Numrologi TusharSampat (Expert)
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10 August 2014 it is business loss and not capital gain

Nikhil Kaushik

Nikhil Kaushik (Expert)
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10 August 2014 Dear Ankita,

A one of transaction can be classified as capital transaction. However, the general practice is to treat such transaction as business income.

Where you are sure that the transaction won't be repeated in near future, you may also classify the same as other incomes.

The above are generic positions. A final position would depend on verification of actual statement of facts.

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