Dear Professionals,
Can the loss in F & O be set off against profits of any other business or profession ?
Please reply with reference to any Circular / Notification / Clarification in this regard.
Thanks.
2 Replies
umanath
(-)
(56 Points)
Replied 04 November 2009
Derivative Loss is business loss by virtue of amendment to section 43(5) of the I T Act. Section 43(5) of the I T Act defines “ Speculative Transaction” and “transactions in Futures & options “ carried out through BSE and NSE are now business loss. So loss in F & O can be set off against profits of any other business or profession
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