I am doing share trading in Future & Option during the F.Y. 2011-12. I have incurred some Loss during the fiscal, so I want to know about can I adjust this loss with speculative income?
01 June 2012
Loss arising from trading in 'future and options' of shares are normal business loss as per proviso (d) to section 43(5 ) of the Income tax Act,1961. Such loss can be set off against 'speculation profits' in the same assessment year u/s 71 of the said act.
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