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
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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