Mohit Gupta (11 Points)
12 July 2023Hi
This is regarding stock trading where in short term there is profit of 90k and in long term there is loss of 2.50 Lakhs in last financial year. During the last FY, I have done margin trading whereon interest of Rs 1.25 Lakhs(Additional Loss) was charged by trading firm. So my query is can i carry forward this additional loss of 1.25 Lakhs along with Long term loss so that in future I can set off this loss in case of long term profit which I assume to come around 5 Lakhs in current year.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(161096 Points)
Replied 12 July 2023
No. Not with LT capital loss...
But you can carry forward as speculative business loss.
Mohit Gupta
(11 Points)
Replied 13 July 2023
If I carry it as business speculation loss then can it be adjusted against business profit if I earn profits in shares this current year. But this profit will be long term capital gain but yes in shares.
Means speculation business profit.
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(161096 Points)
Replied 13 July 2023
You can adjust it (ONLY) with any speculative business gains till next FOUR years.
CAclubindia
