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Satya (Others)     31 July 2013

Set off loss against futures and options


I am salaried employee. I do have the following sources of income.

1. Income from salary

2. Income from Interest on Fixed Deposits 

3. Loss on Futures and options

Does the loss on Futures and Options can be set off against the income from Interest on Fixed Deposits ?




 3 Replies

CA girl

CA girl (Article Trainee-CA Final)     31 July 2013

Hey,The loss from futures and options cannot be set off against the interest from fixed deposits. It can be set off only against any profits arising from similar speculative activity.

1 Like
CA. Kunal Lakhotia

CA. Kunal Lakhotia (ACA)     31 July 2013

yes I agree

Bharat Ahuja

Bharat Ahuja (AM)     31 July 2013

income from f&o is non speculative in nature...

Pls refer section 43(5). you need to file ITR4

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