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Loss on share trading

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(Querist)
05 December 2013 Respected Sirs,

Pls guide me if a person has suffered losses on share trading in a particular financial year then what will be its treatment in income calculations.

will it be entirely neglected ?

Pls guide.
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CA PARAS BAFNA

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CA PARAS BAFNA (Expert)
05 December 2013 Except the day trading loss, other trading loss is treated as a normal business loss which can be set off against income under any other head (except Salary Income).
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After setting off, the resultant income is considered as Gross Total Income (GTI).
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In other cases, where there is no other income, or other income is not sufficient to absorb the losses fully, the GTI can be shown as negative.
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For carrying forward the loss to the next AY, return must be filed on or before the due date.
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