Set -off of losses

Dimpy (Accounts) (95 Points)

24 August 2021

Can we set - off Intraday loss with short term/long term capital gain?

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4 Replies

CA. Sourav Sarkar (Chartered Accountant ) (24583 Points)
Replied 24 August 2021

No...

CMA Poornima Madhava (CMA) (13112 Points)
Replied 24 August 2021

No, intraday loss is a speculative business loss and can only be set off against speculative income

CA Amit Shingala (PRACTICE) (164 Points)
Replied 24 August 2021

Speculative loss can be setoff against only speculative income and not against any other capital gain

Chain to Help (35 Points)
Replied 24 August 2021

Yes POORNIMA YOU ARE ABSOLUTELY CORRECT,

No, intraday loss is a speculative business loss and can only be set off against speculative income.

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