Set off of F & O Loss
This query is : Resolved
09 October 2017
Sir
My Client has filed return of income for AY 2016-2017 ( Y E 31-03-216 ) on 31-03-3017.
His Net loss was 60lac. i has filled return u/s 44AB
Now in AY 2017-2018 wheather loss of last year cam be set off in current year
K Srinivas, CMA CS
(Expert)
09 October 2017
Income from futures and options are treated as non speculative in nature. Loss is allowed to be carried off for next 8 years against any non speculative business income.
09 October 2017
But the loss return is belated, hence business loss c/fd will be denied as per law.
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