LOSS FROM F &O
This query is : Resolved
12 November 2010
LOSS UNDER F&O IS TREATED AS NORMAL BUSINESS LOSS UNDER WHICH SECTION OF I.T ACT, 1961 AND THE ORDER NO. AND DATE OF ORDER ON WHICH THE ORDER WAS PASSED.
12 November 2010
You may refer Section 43(5)(d).
A transaction in respect of trading in derrivatives carried out in a Recognised Stock Exchange is not treated as a speculative transaction. Therefore it is a normal business transaction.
A transaction in respect of trading in derrivatives carried out in a Recognised Stock Exchange is not treated as a speculative transaction. Therefore it is a normal business transaction.
13 November 2010
Hi,
But i have recently heard that IT department has started opening cases of ICICI Bank, Wipro etc where they have claimed F & O losses from normal business income. Please clarify this also.
But i have recently heard that IT department has started opening cases of ICICI Bank, Wipro etc where they have claimed F & O losses from normal business income. Please clarify this also.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Is this income indian or foreign income?
- 15ca /15cb whose income tax login? remitter or nri seller's login?
- Regarding Documentation & Compliances for Opening of Unit of Pvt Ltd.
- TDS U/S. 194NF
- RCM applicability on Rent Paid by Registered Person to Unregistered Landlord for Residental Building
- GST on export of services and Input Credit
- ITC temporary reversal and reclaim
- Applicable TDS rate for sale of property in Nov 2024
- Tds on building rent monthly
- Import license renewal
- LAST YEAR 2022-23 ITC IN NEXT YEAR 2023-24 REPORITNG IN GSTR-9
- MIS MATCH OF INVOICE NUMBER
- IGST Credit-Show cause notice issued-confusion
- Issue of gst e invoice
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding einvoice taken on nil rated sales
- Strategical investment in Public listed company
Trending Online Classes
CAclubindia
