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Futures loss

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A company engaged in business of trading shares has incurred a loss in futures trading...can it be booked as loss in P&L or is it a speculative business loss? Reply asap
Replies (5)
speculative income in case of companies.

u mean speculative loss? it can't be booked in P&L of a share trading co.???

yes sir it can be set off against speculative income only.
But if a co is dealing in all this as it's business then it can book it in p&l

please check section 43(5)(d) of the income tax act and if the transaction falls under that category, the transaction will not be a speculative transaction.


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