Offsetting losses of Future and Options
This query is : Resolved
20 February 2020
Hi
Losses in Future and Options can be offset against business income , but can this also be done wrt Agriculture/farm income (non rental)
The gains made on mutual funds / stock equities can they be offset with the losses in FnO segment ?
Also does any rental income qualify as business income for offsetting losses ?
Regards
K
Losses in Future and Options can be offset against business income , but can this also be done wrt Agriculture/farm income (non rental)
The gains made on mutual funds / stock equities can they be offset with the losses in FnO segment ?
Also does any rental income qualify as business income for offsetting losses ?
Regards
K
21 February 2020
F&O trading is reported as a business. If there is loss, it can be setoff against income from any other head except salary. It may be Income from Interest, Rent, Capital Gains etc. It may not be adjusted against Agricultural income, as such, falling under Sec 10.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- About TDS & Income Tax
- PPF interest-As Exempt Income disclosure
- Section 194JA & JB Income which ITR Form to use
- Pass word to open justification report for Q1 for FY 2026-27
- Under construction property in ITR
- Scrutiny and reopening of past returns
- Booth for sales promotion
- Building tax payment deduction in rental Income
- Upload Level ValidationITR3Category of Defect B/D
- Foreign inward in ITR
- TAX AUDIT QUESTION
- VALUATION OF PRIVATE LIMITED COMPANY SHARES
- LIABILITY ADJUSTMENT
- Capital Gains on sale of residential flat
- Accounting with Claude
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
