Set off and carry forward of losses

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

10 October 2017 Sir my name is Sai Krishn ,
I have a doubt that what is the difference between speculation income and speculation profit.
Because,I have studied a statement that speculation loss can be set off against speculation income but not against speculation profit.

Dr. ShamsheerKhan

Dr. ShamsheerKhan (Expert)
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10 October 2017 speculation income and speculation profit or same. if any person incurred speculation loss in a financial year then he has declare his speculation loss in the same financial year and this loss can be set off against speculation income or profit as you may say in the future coming financial year.

Querist : Anonymous

Querist : Anonymous (Querist)

10 October 2017 Sir can you have ipcc income tax practice manual?

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Dr. ShamsheerKhan

Dr. ShamsheerKhan (Expert)
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10 October 2017 No...... I didn't have.

Querist : Anonymous

Querist : Anonymous (Querist)

10 October 2017 Sir what is speculative trasaction