Hi All
For the last three years I got loss in Trading in F & O , i filed my return before due date every year ..The Loss was shown as speculative Loss and the same was carried forward .
This year I got profit in F & O but as per recent amendments Trading in Future is not speculative .. Cant I set of my profit with previous year loss ?
please guide in this regard..
TYIA
Trading in F & O Segment is not a sepculative transaction. This is the situation for quite some time now. If you have shown as speculative in earlier years, then it is wrong. But you can claim set off now against your f & o gains, if yu can prove that the earlier years losses were F & O and it was only a mistake while filing the return.
Bharat Shah & Associates
Mumbai
CA Inter
View Details
PARV & Co.
New Delhi
CA Inter
View Details
Subrahmanyam & Sivudu CA Firm
Hyderabad
CA Inter
View Details
Interactive Media Pvt Ltd.
New Delhi
CA Inter
View Details
CCI
Pro
CAclubindia
