Setting of F&O loss
This query is : Resolved
Quick Summary
17 July 2022
Dear Sir / Madam,
Mr A has incurred losses in F&O during FY 2021-22. That loss would be treated as business loss. He is preparing P&L balance sheet. He also has short term capital gain and income from other sources.
Can he set-off this business loss against short term capital gain and income from other sources??
Kindly guide.
Regards,
Suraj
Mr A has incurred losses in F&O during FY 2021-22. That loss would be treated as business loss. He is preparing P&L balance sheet. He also has short term capital gain and income from other sources.
Can he set-off this business loss against short term capital gain and income from other sources??
Kindly guide.
Regards,
Suraj
CA R SEETHARAMAN
(Expert)
18 July 2022
Yes, such business loss can be set off against capital gains and income from other sources.
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