Set off speculation profit
This query is : Resolved
Sanjeev Agarwal
(Querist)
11 May 2015
I had a profit in business of bullion trading for a.y.2010-11.I had a loss in currency derivatives for a.y.2010-11. I got them set off from each other. A search was conducted on my premises. On subsequent assessment u/s 153 A read with 143(3) the A.O. treated the loss from currency derivatives as speculation loss. His order was passed on 27-03-14. Now this speculation loss can be carry forward for 4 years only.This 4 years shall be count from which date ?
Nikhil Kaushik
(Expert)
11 May 2015
for years from the year in which the loss was incurred...
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