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Speculative loss

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(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.
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VISHRUT

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VISHRUT (Expert)
19 September 2011 It can be c/f to next 4 years to total value but will be adjustable against STCL only..
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SUBHASH JAIN

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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.
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
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.
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