Hi,
I am having a speculation loss of Rs 3lakhs in my HUF for the financial year 2016-17.I have not submitted my return and will file now.
Can this loss be carried forward...
2 Replies
Rahul Prasad
(CA Student)
(1683 Points)
Replied 18 March 2018
An Assessee can set off the Losses incurred in speculation Business only against the profits of any other speculation Business. It is not permissible to set off speculative Loss against any other Business or Professional Income. An Assessee has an Opportunity to set off any other Business Loss with the profits of speculation Business.
Miss Mansi Bhojani
(Practicing Chartered Accountant)
(1736 Points)
Replied 19 March 2018
In case of speculation loss return needs to be filed within the due date to carry forward that loss.
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