Setting of F&O loss
This query is : Resolved
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17 July 2022
Dear Sir / Madam,
Mr A has incurred losses in F&O during FY 2021-22. That loss would be treated as business loss. He is preparing P&L balance sheet. He also has short term capital gain and income from other sources.
Can he set-off this business loss against short term capital gain and income from other sources??
Kindly guide.
Regards,
Suraj
Mr A has incurred losses in F&O during FY 2021-22. That loss would be treated as business loss. He is preparing P&L balance sheet. He also has short term capital gain and income from other sources.
Can he set-off this business loss against short term capital gain and income from other sources??
Kindly guide.
Regards,
Suraj
18 July 2022
Yes, such business loss can be set off against capital gains and income from other sources.
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