Trading Loss
This query is : Resolved
13 June 2011
If one person having business income ( other then share market ) & if he incurred trading loss in shares can it be set off agst business profit. I also want to STT, Service tax stamp duty etc can also be carried forward as loss or set off agst business income.
Regards
deeak
Regards
deeak
13 June 2011
If that loss arises in a speculative transaction then that loss can be set off only against profit arising in a speculative transaction.If not it can be set off.
13 June 2011
STT, Stamp Duty, Service Tax etc are allowable as expenses of share trading business and can be treated as if business loss.
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