Dear All,
If a person takes a futures position in a stock at around 28th of March 2009 and is not squared off till 31st March 2009 and has incurred a loss of 50000 on the position as on 31 March 2009 and has squared off the position on 01-april-2009 with total losses of 60000. How the loss should be treated for income tax filing purpose. Should the loss of 50000 be filed as a loss in FY09 and 10000 in FY10 or the entire loss of 60000 should be filed for FY10.
CAclubindia
