Comment on Taxation Simplified
commented on
09 Oct 2013, 10:10 AM
1) Speculative losses can be carried for 4 years?
2) speculative losses can only be set off against speculative losses and not any other head, even in current year
3) a) Business Losses (F & O) can be set off against any loss (including FD interest) other than salary in current fiscal (same fiscal)
3 b) including speculative profits?
4) Business Loss can be carried for 8 years, and can be set off only against business income in those 8 years and not against FD interest etc?
Is my understanding correct