Hi,
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 ?
Thx
Satya
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.
yes I agree
income from f&o is non speculative in nature...
Pls refer section 43(5). you need to file ITR4
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