Speculation Business

YES.

Loss in Speculation Business can be set-off only against Profits of other Speculation Business &

Profits from Speculation Business can be adjusted for other Business Losses.

Originally posted by : AKSHIT MALHOTRA
	PLEASE TELL ME IF I AM WRONG SPECULATION PROFITS CAN USED FOR SETTING OFF OTHER LOSSES BUT SPECULATION LOSSES CAN SET OFF ONLY AGAINST SPECULATION PROFTS. INCOME IS INCLUDED IN TOTAL INCOME OR NOT.

I will say it is partly correct because speculation profits cannot be used to adjust loss of LTCL , STCL, Losses from race horses.

agree with you that speculation loss set off against only speculation income ,the income from speculation shown sepratelly

it is added in your total gross income but taxed separelly

THANKS A LOT KRISHNA,PRAVEEN SIR & VALJI SIR.
 

Agree with krisha & praveen,LTCG/STCL are subject to  tax calculation seperately & speculation losses only could set off by speculation profits,u can carry forward speculation losses. 

Originally posted by : Sanjay
	what is the mystery of letter R regarding Praveen Sharma(accounts) sir and Sanjay Agarwal(costing) sir?

This R is nothing but bull-sh*t.

Focus kon your studies, these things do not help in any manner.