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Futures loss
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?
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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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