Set of?????????????/

This query is : Resolved

Guest

Guest (Querist)

06 November 2012 can i claim set off of speculation gain(intra day) on sale of shares against F & O loss (Business Loss)???????????????????????????????????????

CA Dhiraj Ramchandani

CA Dhiraj Ramchandani (Expert)
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06 November 2012 theoretically, there should not be any problem to claim speculation loss against speculation gain... so yes, you can claim this set off..

CA SAYANTAN BASU

CA SAYANTAN BASU (Expert)
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07 November 2012 DEAR SIR ,

1. AS PER SECTION 73 OF THE INCOME TAX ACT 1961 , SPECULATION LOSS CAN BE ONLY SETOFF AGAINST SPECULATION GAIN ....

2. SO YOU CAN VERY WELL SETOFF AGAINST GAIN OF FUTURES AND OPTIONS THE SPECULATION LOSS .....SINCE BOTH ARE SPECULATION NATURE ....