Set off in case of share broker engaged in trading
This query is : Resolved
27 January 2013
Assessee is a share broker engaged in trading in shares and commodoties , can the profit from the future and Option from trading on shares be set off against the losses of trading of commodities and vice versa.
28 January 2013
The losses of Commodity exchange transactions is if speculative in nature it can not be set off against income earned from Share trading. However if the position is reversed, set off is allowed.
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