WETHER DERIVATIVE LOSS IS SPECULATIVE LOSS ? WETHER EXPS LIKE TURNOVER CHARGED, STAMP DUTY, ETC ALLOW AS EXPS ? ( DEALING IN SHARES IS NOT A NATURE OF BUSINESS)
2 Replies
CA.HARDIK.V.SHETH
(ARTICLE)
(46 Points)
Replied 01 June 2010
Loss from Derivative Loss in not a speculative loss because it is specifically exempted U/s 43(5) from the definition of Speculation if it is traded on recognised Stock exchange therefore it can be taken as Normal Business Loss and Expenses is are allowed to be deducted from Loss
CA Ayush Agarwal
(Kolkata-Pune-Mumbai)
(27186 Points)
Replied 01 June 2010
Though its Short of Investment, But It will Be Treated as Business Loss Only.
Non Speculation Business Loss Only.
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