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Set off of loss

Tax planning 263 views 8 replies
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Individual
124 Points Posted on 09 December 2020
Sir, Can anyone give me guidance for following, Can I set off of future and option loss against divided income for A.Y.2021-22. Divided income is taxable from A.Y.2021-22 and will be charged as a normal rate. For example, Divided income 5000000 Less:Furniture and option loss 3000000 Net income after Set off of future and option loss 2000000 Is it correct? Thanks.
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On 09 December 2020 at 20:14 Report
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Tax consultant
5895 Points Posted on 10 December 2020
Future and options loss are set off against other income expect salary income in the same year when the loss occurred
if it is carried forward for future year then it will be set off against only business income
sorry I don't know what is divided income ??
57 Reply
On 10 December 2020 at 01:47
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12244 Points Posted on 10 December 2020
Yes you can set-off against current year dividend income
35 Reply
On 10 December 2020 at 01:59
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Tax consultant
5895 Points Posted on 10 December 2020

It is dividend income what he wants to say!!!

57 Reply
On 10 December 2020 at 02:02
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12244 Points Posted on 10 December 2020
Yes.. I too meant that only current year f&o losses can be set-off against current year dividend income for a. y. 2020-21
35 Reply
On 10 December 2020 at 02:04
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Individual
124 Points Posted on 10 December 2020

Sir,

It is a equity dividend income earned from investment of stock of various company.

Thanks

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On 10 December 2020 at 09:43
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Individual
124 Points Posted on 10 December 2020

Thank you very much.

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On 10 December 2020 at 09:44
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Individual
124 Points Posted on 10 December 2020

It is a dividend income earned from investment of various company's stock.

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On 10 December 2020 at 09:45
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Individual
124 Points Posted on 10 December 2020

Thank you very much. It is current A.Y.2021-22 and F.Y.2020-21.

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On 10 December 2020 at 09:46


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