Speculative loss

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SUBHASH JAIN (Querist)
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19 September 2011 WHETHER SPECULATIVE LOSS IN THE P.Y. 2010-11 FOR RS. 250000/- THEN WHICH EXTENT TO WE CAN C/F. , UPTO HOW MANY YEARS WE CAN CARRIED FORWARD.

VISHRUT

VISHRUT (Expert)
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19 September 2011 It can be c/f to next 4 years to total value but will be adjustable against STCL only..

SUBHASH JAIN

SUBHASH JAIN (Querist)
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19 September 2011 NO MR. VISHRUT SPECULATIVE LOSS CAN BE SET OFF ONLY SPECULATIVE INCOME AS PER SECTION , IF ANY THING ELSE PLEASE TELL ME.

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CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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20 September 2011 As per Section 73 of the Income Tax Act, speculation loss can be carried forward only for 4 years.

There is no restriction on the amount of loss to be carried forward. However, it can be set off only from speculative income.