Futures and options trading loss
raksha travels (1 Points)
26 July 2019
Any loss incurred in F&O can be setoff against other income
raksha travels (1 Points)
26 July 2019
Dhirajlal Rambhia
(SEO Sai Gr. Hosp.)
(168976 Points)
Replied 27 July 2019
Yes except against salary income.
Suresh Thiyagarajan
(Student)
(3986 Points)
Replied 27 July 2019
1. As explained by our expert, sec 43(5), trading in futures and options were specifically excluded from speculative transaction and loss under this head would be carried forward and set off as a normal business loss.
2. According to sec 71(2A) loss under the head, PGBP will be allowed to be set off against any income other the income under the head "Salaries".
3. So in your case loss from F&O trading will be allowed to be set it off against any income other than salaries.
Please correct me if the above solution has an alternative view.
GSTR 9 and 9C for FY 23-24 as amended by Notification 12/2024 dated 10th July 2024(with recording)
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