Is speculative income loss, a stcl

Speculative income comes under profit & gains from Business or profession. It cannot be treated as STCG because of its regular trading nature.

Speculative loss can be carried forward and set off against speculative gain only.

 However speculative loss cannot be carried forward for more than four Assessment Years immediately succeeding the Assessment Year in which the loss was first computed.

If I am to show the speculative loss, which ITR form should I use.

I am not able to find the appropriate section to fill in the speculative income

you will have to file ITR 4 and there is a separate column mentioning Speculative gain or loss in the computation of total income and schedule of computation of profit and gains from business or profession.

Agee with Mahesh, First you can enter gross reciept in Part P&L and make adjustment in shedule BP

stcl or speculative loss would depnd upon nature of transaction

if u r a trader it is speculative loss otherwise stcl

Actually I agree with Sheena.

The nature of the transaction needs to be looked into first.

If the assessee is holding the shares as an investment then he has to treat it as Capital Loss instead of Business Loss.

Hi experts,

Having a tough time filing ITR-4. Am not able to find appropriate code to select in 'Nature of Business'

The speuclative loss should come under 'B41 of schedule BP'. Now in the PArt P&L, I am not sure where to fill Net sale value and net purchase value, so that it is correctlty populated in Part-B TI

Please help.

Thanks