| Dear Friends, care need to be taken while setting off and carrying forward Speculative Loss. | |||||
| As per Sec (73) speculative loss is not eligible for set off after the end of four A.Y's from the end of A.Y in which loss has been incurred. | |||||
| For eg. Speculative loss occured in the P.Y 2003-04 (A.Y 2004-05) is eligible for set off only upto the A.Y 2008-09. | |||||
| Note :- 4 years to be counted from the end of the year 2004-05. | |||||
Can Anyone tell me that speculation loss other than Income from horse race can be set off or carry forward.
Gowra Ventures Pvt Ltd
Hyderabad
CA
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VIKAS VERMA & CO
New Delhi
Others
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Chirag N Shah & Associates
Mumbai
CA Inter
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CAclubindia
