speculation loss

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PRAKASH CHORDIA (Querist)
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21 January 2011 sir we have 2 business.1 is ordinary business and other is speculative i.e. non delivery base intraday share transaction.in speculation business there is loss.so how we have to show this in ITR-4 P&L part and schedule BP.

Deepak Goel

Deepak Goel (Expert)
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23 January 2011 You have to show profit from one business and show loss from other business and Net of both bussiness is for the current year Profit/ Loss

PRAKASH CHORDIA

PRAKASH CHORDIA (Querist)
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24 January 2011 Sir but how we can set off the speculation loss from regular business profit and particularly how we have to present the speculation loss in ITR-4?

Deepak Goel

Deepak Goel (Expert)
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26 January 2011 You have to show in your computaion first profit from first business than show loss from second business then net amount is income/ loss from Business or Profession

PRAKASH CHORDIA

PRAKASH CHORDIA (Querist)
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31 January 2011 THANK YOU.

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