Set off losses
This query is : Resolved
KAMAL GANDHI
(Querist)
13 March 2014
can we set of the speculative loss with interest income during the year for reduce excess tax burden?
Dintakurthi Tirumala
(Expert)
13 March 2014
Speculative losses shall be set-off/adjust with the Speculative profits only.
So in your case set off speculative loss with the interest income is not available.
OM SAI SRI SAI JAI JAI SAI
So in your case set off speculative loss with the interest income is not available.
OM SAI SRI SAI JAI JAI SAI
KAMAL GANDHI
(Querist)
13 March 2014
How could I get adjusted this loss with others income ?? please advice
Dintakurthi Tirumala
(Expert)
13 March 2014
There is no provision to adjust speculation losses with other heads of income. So speculation loss should be adjust/set-off with same or another type of speculative profit only no any other way.
OM SAI SRI SAI JAI JAI SAI
OM SAI SRI SAI JAI JAI SAI
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