Loss in derivatives

i had incurred loss in derivatives trading of rs 2.24 lks, i am havng business income of 15 lks, can i setoff that loss to my business income  , what is the correct place is to be shown

Replies (3)

Yes, both income under PGBP in ITR 3 

SIR one is 15 lks income and  derivatives  is 2.24 loss , can i set off both and arrive to net profit in business p &l,  IR IT IS TO BE SHOWN IN DIFFERENT HEADS IN INCOME COMPUTATION STATEMENT, MY AUDITOR  IS ADVISING TO DEBIT F&O LOSS DIRECTLY FROM CAPITAL WITH OUT SHOWING ANY EFFECT ON INCOME WILL BE SAFER TO GET NO MORE QUESTIONING FROM DEPARTMENT, PLS GIVE WISER ADVISE , THANK YOU

Declare both the businesses .......and in case aggregate turnover exceeds 1 cr.......... Go for audit....... that is the safest option.

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