Offsetting losses of Future and Options

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Prakash Singh (Querist)
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20 February 2020 Hi
Losses in Future and Options can be offset against business income , but can this also be done wrt Agriculture/farm income (non rental)

The gains made on mutual funds / stock equities can they be offset with the losses in FnO segment ?

Also does any rental income qualify as business income for offsetting losses ?

Regards
K

swasti

swasti (Expert)
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21 February 2020 F&O trading is reported as a business. If there is loss, it can be setoff against income from any other head except salary. It may be Income from Interest, Rent, Capital Gains etc. It may not be adjusted against Agricultural income, as such, falling under Sec 10.