Speculative loss
This query is : Resolved
SUBHASH JAIN
(Querist)
19 September 2011
WHETHER SPECULATIVE LOSS IN THE P.Y. 2010-11 FOR RS. 250000/- THEN WHICH EXTENT TO WE CAN C/F. , UPTO HOW MANY YEARS WE CAN CARRIED FORWARD.
19 September 2011
It can be c/f to next 4 years to total value but will be adjustable against STCL only..
SUBHASH JAIN
(Querist)
19 September 2011
NO MR. VISHRUT SPECULATIVE LOSS CAN BE SET OFF ONLY SPECULATIVE INCOME AS PER SECTION , IF ANY THING ELSE PLEASE TELL ME.
20 September 2011
As per Section 73 of the Income Tax Act, speculation loss can be carried forward only for 4 years.
There is no restriction on the amount of loss to be carried forward. However, it can be set off only from speculative income.
There is no restriction on the amount of loss to be carried forward. However, it can be set off only from speculative income.
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