Commodity trading loss
Shivaraj (Accountant) (78 Points)
28 May 2020
Whether the loss in commodity trading (online) can be sett off with other head of income
1 Replies
Asha Kanta Sharma
(Manager - Finance & Accounts)
(36365 Points)
Replied 29 May 2020
The single most important reason to file with F&O trading is to be able to benefit from losses you have incurred. If your business resulted in a loss, don’t worry, report it in your tax return. It can be adjusted from income from remaining heads such as rental income or interest income (cannot be adjusted from salary income). Any unadjusted loss can be carried forward for eight years. However, in the future, they can only be adjusted from non-speculative income. F&O trading loss is considered a non-speculative loss. Intra-day stock trading is considered as a speculative loss. And it can only be adjusted against speculative income. Unadjusted speculative losses can be carried forward to four years.
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