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?
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Tax Implications for fno trading
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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.
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