set of loss
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
29 January 2011
can loss of commodities will be set off against profit of depreciable assets in the same year
30 January 2011
Loss of commodities, if it is not a speculative loss, or it is a loss incurred in MCX, can be set off against STCG
in the same year.
in the same year.
30 January 2011
Respected Paras Bafna Sir
Would like to have your expert opinion on whether:
1) Loss incurred in MCX (without actual delivery) would be Speculative loss?
2) If not, under what circumstances?
Thanks and regards
Juzer
Would like to have your expert opinion on whether:
1) Loss incurred in MCX (without actual delivery) would be Speculative loss?
2) If not, under what circumstances?
Thanks and regards
Juzer
30 January 2011
MCX is now a Recognised Stock Exchange.
*
By the virtue of S.43(5) eligible transactions of trading in derivatives in recognised stock exchanges are not treated as speculative business transactions.
*
Hence loss incurred in MCX is not a speculative loss.
*
You can say it is at par with loss incurred in F&O.
*
By the virtue of S.43(5) eligible transactions of trading in derivatives in recognised stock exchanges are not treated as speculative business transactions.
*
Hence loss incurred in MCX is not a speculative loss.
*
You can say it is at par with loss incurred in F&O.
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