Set off of f & o loss against other heads of income
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)
Please advise whether Loss from F & O Transactions (Equity & Index Futures & Options) can be set off against Income from Other sources (Bank interest)
26 September 2013
No it can not be set off against income from other sources.
See link below for Set off details:
http://wirc-icai.org/wirc_referencer/Income%20Tax%20&%20Wealth%20Tax/Set%20Off%20And%20Carry%20Forward%20of%20Losses.htm
See link below for Set off details:
http://wirc-icai.org/wirc_referencer/Income%20Tax%20&%20Wealth%20Tax/Set%20Off%20And%20Carry%20Forward%20of%20Losses.htm
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