Set off of buisness loss from speculation profit

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(Querist)
20 September 2012 Dear All,

My company has carried forward business loss and Speculation losses. During the year we have Speculation profit.Can we set off business losses from the same after setting off Speculation loss

Regards

Vikas
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Dintakurthi Tirumala

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Dintakurthi Tirumala (Expert)
20 September 2012 yes, you can set-off.

OM SAI SRI SAI JAI JAI SAI
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Vikas Malhotra

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Vikas Malhotra (Querist)
20 September 2012 But while filing ITR 6 it is not allowing
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Pankaj Gupta

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Pankaj Gupta (Expert)
20 September 2012 During the tenure of carry forward a business loss can be set off from business profit only.
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