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INTRA HEAD ADJ

This query is : Resolved 

14 December 2008 I HAVE RECEIVED BROKERAGE INCOME AND ON THE OTHER HEAD I HAVE INCURRED LOSS IN DERIVATIVE TRADING

CAN THE TWO BE ADJUSTED

PLEASE HELP

15 December 2008 As the Income from derivatives of stock market are non-speculative in view of the provisions of Section 43(5) of the Income Tax Act, the loss from one activity may be adjusted against profit from other activity(Refer Sections 70 to 72)



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