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STCL on listed Shares

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Student
5 Points Posted on 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
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On 15 August 2020 at 20:38 Report
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Practising CA
8954 Points Posted on 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
30 Reply
On 15 August 2020 at 22:37
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131 Points Posted on 15 August 2020
I think you can carry losses of equity future for 4yrs under loss from speculative transaction
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On 15 August 2020 at 23:41
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Student
5 Points Posted on 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
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On 19 August 2020 at 23:57
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Practising CA
8954 Points Posted on 20 August 2020
Dear Pramod, Futures and Options is a business income. No doubt in it.
30 Reply
On 20 August 2020 at 09:34
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Student
5 Points Posted on 20 August 2020
Ok sir, thank you
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On 20 August 2020 at 09:55


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