share trading

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

16 July 2010 sir

assessee has a business of coaching classess having net income of rs 180000

i wants to know about income treatment of following incomes:

1 intra day income rs 2000

2 purchased share on first day and sold on next day ( net loss 15000)

3 loss from ncdx market( commodity)market (loss rs 35000)

4 loss from future and option (loss rs 15000)

Aditya Maheshwari

Aditya Maheshwari (Expert)
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16 July 2010 1. Speculation Profit - 2000
2. Business Loss - 15000 (Looking towards the period of holding of shares)
3. Speculation loss - 35000
4. Business Loss - 15000

Business loss (15+15) Rs. 30k can be set off against coaching income

Speculation Loss of Rs. 33k (35-2) to be carried forward and not available for set off.