Can I set off losses incurred in intraday share trading against income earned in intraday derivatives trading? Please clarify.
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Quick Summary
This discussion clarifies whether losses from intraday share trading can be offset against income from intraday derivatives trading. The consensus is that this is not permissible. Losses from speculative income can only be set off against income from the same head, and share trading and derivative trading are considered different categories for tax purposes.