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shares loss in F&O

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(Querist)
13 June 2009 we have share loss Rs. 12.00 lac in F&O for current year 2008-09 and turn over of shares purchases / sales near about 5 corer. please tell me we have set off this loss in my other business speculation income and we are in audit? regular business turn over Rs. 32.00 lac for current year.
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
13 June 2009 F & O is non speculation business loss and can be set off against non speculation business income but the reverse is not allowed. SO you need not worry as the same is allowed to be set off.
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manish

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manish (Querist)
18 January 2010 i have a reliance power ltd's shares in ipo and company give the bonus shares and friction amount received by cheque Rs. 26.57 this amount is taxable or not?
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Aditya Maheshwari

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Aditya Maheshwari (Expert)
18 January 2010 The amount of Rs. 26.57 (i think it is Rs. 26.53) is taxable as sale of fraction right entitlement
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