ADJUSTMENT OF LOSSES

This query is : Resolved

swati (Querist)
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12 January 2010 SIR,
GENERALLY IN THE SHARE MARKET THERE ARE 4 TYPES OF DEALINGS-
1. FUTURE & OPTION (PROFIT/LOSS) - TREATED AS BUSINESS PROFIT/LOSS
2. DELIVERY (PROFIT/LOSS) - TREATED AS 'BUSINESS (PROFIT/LOSS)' FOR BUSINESS PEOPLE AND TREATED AS 'SHORT TERM (PROFIT/LOSS)'FOR INVESTMENT PURPOSE.
3. SAME DAY JOBING (PROFIT/LOSS) - TREATED AS SPECULATION (PROFIT/LOSS).
4. COMMODITY (FUTURE) PROFIT/LOSS - TREATED AS SPECULATON PROFIT/LOSS.
KINDLY ADVISE ME WHETHER LOSES OF COMMODITY FUTURE/SHARE SPECULATION CAN BE ADJUSTED AGAINST FUTURE & OPTION/DELIVERY PROFITS IN THE SAME YEAR OR IN SUBSEQUENT YEARS.

Sudhindra

Sudhindra (Expert)
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13 January 2010 speculation losses can be adjusted against speculation profits in the same or in subsequent years, as per the provisions of section 77a