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Losses from F & O trading

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(Querist)
08 June 2010 Can I adjust losses arising from trading in F & O against profit from business operations ?

Regards
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
08 June 2010 Yes it can be done as the loss from F & O in shares & currency is non speculation business loss.
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Sunil Kr. Sanganeria

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Sunil Kr. Sanganeria (Expert)
08 June 2010 Yes. as per section 43(5)(d)of the Income Tax Act, any trading in derivtives referred to in clause(ac) of section 2 of the securities Contracts Regulation act 1956 carried out in a recognised stock exchange is not a speculative transaction.
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