Set off
This query is : Resolved
06 January 2012
WHETHER A PRIVATE LIMITED COMPANY CAN CLAIM SET OFF OF F&O LOSS AGAINST BUSINESS INCOME?
06 January 2012
We all know that loss of speculation business can not be set off from non speculative business income. However you will be happy to know that w.e.f. A.Y. 2006-07 section 43(5) has been amended and now all derivative transactions will not be treated as speculative business transactions. You can claim the set off.
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