Set off of f & o loss against other heads of income

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This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

26 September 2013 Hi

Please advise whether Loss from F & O Transactions (Equity & Index Futures & Options) can be set off against Income from Other sources (Bank interest)

CMA. CS. Sanjay Gupta

CMA. CS. Sanjay Gupta (Expert)
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26 September 2013 No it can not be set off against income from other sources.

See link below for Set off details:

https://wirc-icai.org/wirc_referencer/Income%20Tax%20&%20Wealth%20Tax/Set%20Off%20And%20Carry%20Forward%20of%20Losses.htm

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