Pramod (Student) 15 August 2020
Is Loss from sales of Listed equity shares/Futures eligible for c/f u/s 74?
The section is general one but silent on specific losses.
I just want to confirm about this. I see c/f is for 8yrs.
Is there any specific notification or amendment related to STCL on sale of shares?
Plz comment... Tq
Raj C Doshi (Practising CA) 15 August 2020
STCL on listed shares shall be carried forward for 8 years as LOSSES UNDER THE HEAD CAPITAL GAIN
Losses from Futures shall be carried forward for 8 years as LOSSES UNDER GHE HEAD ORDINARY BUSINESS
Pramod (Student) 19 August 2020
@ Raj C Doshi Sir... If trading in Futures contract is done by an Individual salaried person, can it be shown as Ordinary Business, I think it should go under the head CG as it is only personal trading but not done in full time as a business and done in favour of some customers. Plz reply. Tq