TaxTMI 
TaxTMI 
X is an Indian proprietary concern which has c/f losses in Indian derivative market . X trades in United States derivative market as an individual and has profits. Can X offset his proprietary concern derivative losses with profits from individual account in derivative trading in USA?
CAN PROFIT IN STOCK(DERIVATIVE) US MKT BE OFFSET WITHC/F LOSSES IN DERIVATIVE INDIAN MKT
24 Nov 2011 
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Cross-border derivative loss set-off: resident can offset domestic carried forward derivative losses against foreign derivative trading profits.
For a resident taxpayer, Indian tax law permits carried forward losses from domestic derivative trading, which are treated as non speculative under section 43(5), to be set off against profits earned from derivative trading abroad, subject to the statutory carry forward period and the usual conditions for claiming set off. (AI Summary)
For a resident taxpayer, Indian tax law permits carried forward losses from domestic derivative trading, which are treated as non speculative under section 43(5), to be set off against profits earned from derivative trading abroad, subject to the statutory carry forward period and the usual conditions for claiming set off. (AI Summary)