Hi
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.
No. Not with LT capital loss...
But you can carry forward as speculative business loss.
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.
You can adjust it (ONLY) with any speculative business gains till next FOUR years.
Thank you so much
You are welcome.
Boutique Investment Bank & Transaction Advisory Firm
Gurgaon
CA
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