vinoth (BDM) (26 Points)
05 April 2023I'm a sole proprietor with GST registration. I have made losses in F&O trading in the stock market. So do I have to carry forward my loss or can I set off against my proprietor's income?
Note:- Im not a salaried individual. My income source is my sole proprietorship. It's really confusing about the speculative and non-specualtive income terms. Please clarify.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(195640 Points)
Replied 05 April 2023
Loss from F&O can be set off with your normal proprietary business profit, as both are non-speculative businesses.
vinoth
(BDM)
(26 Points)
Replied 05 April 2023
Thank you so much Dhirajlal. Ao equity trading is a speculative business, correct?
vinoth
(BDM)
(26 Points)
Replied 05 April 2023
Thank you so much Dhirajlal. Ao equity trading is a speculative business, correct?
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(195640 Points)
Replied 05 April 2023
Intraday trading is speculative trading.
& Delivery based transactions are usually assessed under capital gains.
CAclubindia
