Set off losses

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KAMAL GANDHI

KAMAL GANDHI (Querist)
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13 March 2014 can we set of the speculative loss with interest income during the year for reduce excess tax burden?

Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
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13 March 2014 Speculative losses shall be set-off/adjust with the Speculative profits only.

So in your case set off speculative loss with the interest income is not available.

OM SAI SRI SAI JAI JAI SAI

KAMAL GANDHI

KAMAL GANDHI (Querist)
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13 March 2014 How could I get adjusted this loss with others income ?? please advice

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Dintakurthi Tirumala

Dintakurthi Tirumala (Expert)
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13 March 2014 There is no provision to adjust speculation losses with other heads of income. So speculation loss should be adjust/set-off with same or another type of speculative profit only no any other way.

OM SAI SRI SAI JAI JAI SAI