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Regarding speculation trading

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Querist : Anonymous

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Querist : Anonymous (Querist)
06 July 2012 My client is in share trading business.
there is a speculation trading during the year,
is that income/loss as the case may be added to the total turnover of the business?
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CS, Deepak Pratap Singh

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CS, Deepak Pratap Singh (Expert)
06 July 2012 Dear Friend, If there is speculation business during the year then only profit form the business will be added not loss by speculative business. The loss is allowed to be carried forward and same will be set off against speculation profit in the next year. Thanks
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