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)???????????????????????????????????????
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
(Expert)
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 ....
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 ....
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