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.
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
- STCG....................................................
- Supply through E-commerce Operators
- Sales return eway bill
- Relief u/s Section 89
- TAN for Partnership
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- GST Registration Horse racing
- Section 43B(h) – MSME Invoice Paid Before Year End but After 45 Days
- Is E Way Bill Valid If Transport ID Not Mentioned in PART A But Vehicle details mentioned in PART B
- Specified Profession
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
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
