Loss on share trading
This query is : Resolved
05 December 2013
Respected Sirs,
Pls guide me if a person has suffered losses on share trading in a particular financial year then what will be its treatment in income calculations.
will it be entirely neglected ?
Pls guide.
Pls guide me if a person has suffered losses on share trading in a particular financial year then what will be its treatment in income calculations.
will it be entirely neglected ?
Pls guide.
CA PARAS BAFNA
(Expert)
05 December 2013
Except the day trading loss, other trading loss is treated as a normal business loss which can be set off against income under any other head (except Salary Income).
.
After setting off, the resultant income is considered as Gross Total Income (GTI).
.
In other cases, where there is no other income, or other income is not sufficient to absorb the losses fully, the GTI can be shown as negative.
.
For carrying forward the loss to the next AY, return must be filed on or before the due date.
.
.
After setting off, the resultant income is considered as Gross Total Income (GTI).
.
In other cases, where there is no other income, or other income is not sufficient to absorb the losses fully, the GTI can be shown as negative.
.
For carrying forward the loss to the next AY, return must be filed on or before the due date.
.
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