Find
Speculation loss can be set off only against speculation income, in the same year or carried forward for up to 4 years. It cannot be set off against F&O profit, salary or any other income.
ITR
Speculation loss carry forward rules
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Provisions
Sec 73 (now Sec 113); Sec 80 (now Sec 121)
Analysis
If next year you make ₹50,000 in intraday, ₹50,000 of the old loss is used and ₹30,000 continues, until the fourth year. If you never make intraday profit, the loss lapses. The return for the loss year must be filed by the due date, or the loss cannot be carried forward.
Close
- Report the speculation loss in Schedule BP
- Carry it forward in Schedule CFL
- File by the due date
- Track it year by year for 4 years
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