Offsetting interest income against derivative trading losses

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This discussion clarifies whether interest income from Fixed Deposits and government bonds can be used to offset carried-forward losses from trading in equity derivatives. The answer is no. Losses from derivative trading can only be set off against non-speculative business income. Interest income is typically classified as income from other sources, not business income.

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(Querist)
10 November 2024 Can interest income from FDs and government bonds be offset against carried forward losses on trading in equity derivatives?
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
10 November 2024 No. Bought forwarded such losses can be set off against any non-speculative business income only.
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Akshit Jain

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Akshit Jain (Querist)
10 November 2024 Isn't interest income considered income from other sources?
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
10 November 2024 Yes.
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