Set off of loss

Bharatkumar (Individual) (124 Points)

21 December 2020

From F.Y.2020-21 Divided income is taxable as a normal slab rate. Can I set off current year future and option loss against divided income?

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8 Replies

Sivaramaraju G (Learner) (2398 Points)
Replied 21 December 2020

I think yes because f&o loss is considered as non speculative business loss and you can set off with in non speculative income.

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Bharatkumar (Individual) (124 Points)
Replied 21 December 2020

Thank you very much Sir.

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Bharatkumar (Individual) (124 Points)
Replied 21 December 2020

Thank you very much Sir.

1 Like

Krishna Chaudhary (Accountant) (4531 Points)
Replied 09 January 2021

I think you can not because speculation loss can be set off against speculation income only

Bharatkumar (Individual) (124 Points)
Replied 09 January 2021

I think that Furture and Option activity is treated as normal income .

CA Rashmi Gandhi (Chartered Accountant) (86318 Points)
Replied 23 January 2021

Yes you can

Bharatkumar (Individual) (124 Points)
Replied 24 January 2021

Thank you very much Sir.

1 Like

CA Rashmi Gandhi (Chartered Accountant) (86318 Points)
Replied 24 January 2021

Welcome........My Pleasure.....

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