1) Can the commodity trading losses incurred by an individual in a particular fincial year be set off / adjusted
against the commodity trading gains in subsequent years and if yes, under what section of I.T.Act?
2) Can commodity trading losses be adjusted against any other capital gains in the same financial
year and/or subesequent years and under what section of I.T.Act?
As per sec 74 Commodity trading STCL Can be set off against any other Capital Gain(Both STCG/LTCG). But if loss in commodity trading is LTCL than it can be set off only against LTCG. Both can be done in the year itself or incoming years.
What is LTCL and STCL?I do not know so much about commodity losses.Can anyone give me explanation of this.i want to invest in commodity trading.i am scaring of loss.Suggets me how can i adjust the loss.
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