The Kerala High Court stated that loss in derivatives is not a speculative transaction and can be set off against business income of the assessee. Further, this is not a case where Section 73 of Income Tax Act is attracted since it deals with losses in speculation business. Act…….” Section 73 of the Income Tax Act, 1961, provides that any …
The upcoming Union Budget is expected to propose changes in the tax treatment of income from futures and options segment with an aim to discourage retail participation in the derivatives trading, a report said. Along with various options, the government is said to consider moving income from F&O trading from the head of ‘business income’ to ‘speculative income’ in the …
