Loss on Commodity Trading through Multiple Commodity Exchange in India
This query is : Resolved
11 July 2024
Can we adjust the loss on commodity trading with the business profit or any other taxable profit in the year of loss?
Can we carry forward such losses after the current year adjustment and set off against future taxable profits
Is there any difference in taxability of the above in the case of Private Limited Company, Partnership Firm or Individual?
Can we carry forward such losses after the current year adjustment and set off against future taxable profits
Is there any difference in taxability of the above in the case of Private Limited Company, Partnership Firm or Individual?
11 July 2024
Yes, against any other business profit or any other income except salary.
Yes, up tp 8 years to be adjusted against any business profits.
No difference.
Yes, up tp 8 years to be adjusted against any business profits.
No difference.
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