Balance P/L for ITR4 for salaried w derivative speculative

LOSS FROM DERIVATIVE WILL BE TREATED AS ORDINARY BUSINESS LOSS  & AVAILABLE FOR SET OFF AGAINST SHORT TERM CAPITAL GAIN

It seems u r totally in dliemma regarding the following things:

a) Setoff of derivatives loss against STCG?

Ans: Business loss cannot be set off against STCG on sale of shares

b) Some Particulars of ITR to be filled in

Ans: U may end up in preparing defective return.... U may contact any CA to prepare ur IT Return.. U may also mail me the entire details, ur derivatives loss computation, shares income to my mail ID ca.shaileshk @ gmail.com for the preparation of Return.

Any other assistance, feel free to ask

Hi P,

Derivative income/loss shall be deemed to be business income/loss u/s 43(5). So it should be icluded as business income and you need to prepare the financial statement for this in case 44AA or 44AB is applicable to you.

Yup you can setoff it with STCG u/s 71.

Put it under point 51 "No Account Case".

Oops....

I made a Blunder Mistake..........

Yes. Business Loss can be setoff against STCG on sale of shares.. I take my words back

no matter its ok

 u can set off rightly said by tinku

Dear All

I am thankful for such overwhelming response. However, my simple query is as below:

I made losses on speculation(intraday), business(fno) and short term(delivery and BTSTs). I am able to enter speculative (BP B.23-41) and short term losses quite well. Problem is in business losses, i have entered as below.

fno loss, 96794, speculative loss 40023.

Now, I need to know, do I have to enter anything other than 'PARTB - TI - TTI', 'BP', 'CG-OS', 'EI',

I hope I am able to share my problem well.. this I feel is general doubt faces by all ppl like me :(.

Did you get a response to your last query? I also have the same questions.