Specualtion
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
18 April 2015
Whether loss in derivative commodities can be set-off against profit from business/ profession? If not, can it be set-off from any other heads?
CA PARAS BAFNA
(Expert)
18 April 2015
From AY 2014-15, transactions in commodity derivatives carried out in recognised assoications which are chargeable to Commodity Transaction Tax are treated as normal business transactions and loss arising out of such transactions can be set off against the profits of other business/profession.
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