Loss on future and options
This query is : Resolved
ANKITA JAIN
(Querist)
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? ??????????
10 August 2014
it is business loss and not capital gain
Nikhil Kaushik
(Expert)
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.
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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