Tax Implications for fno trading

Tax queries 126 views 1 replies

devang modi

8 Points Joined March 2023

In india if an individual makes 20 lacs profit in a financial year from commodity FNO trading on mcx and 10 lacs loss on equity FNO trading in same financial year.his net income from FNO trading will be 20-10=10.lacs or equity FNO loss can not be adjusted against mcx commodity FNO profit?

Replies (1)

Dhirajlal Rambhia

SEO Sai Gr. Hosp.

208697 Points Joined July 2016

Both are under same heads of income i.e. Non-speculative business, and the loss from one business gets adjusted with another. Hence net profits will be Rs. 10 lakhs.