its clear that speculative loss can only be set off with speculative income
but my question is that whether other business loss can be set off with speculative income
plz answer
( justify your answer too)
CA Harish Suwalka (Chartered Accountant ( Bhilwara )) (4125 Points)
24 November 2010its clear that speculative loss can only be set off with speculative income
but my question is that whether other business loss can be set off with speculative income
plz answer
( justify your answer too)
Devendra
(Chartered Accountant)
(4775 Points)
Replied 24 November 2010
BUSINESS LOSS CAN BE SET OFF AGAINST SPECULATIVE INCOME.
CARRY FORWARD BUSINESS LOSS ALSO CAN BE SET OFF AGAINST SPECULATIVE INCOME.
REGARDS,
DEVENDRA P KULKARNI