Marked-to-Market Losses: Tax Deduction Rules Clarified for Assessees Under Section 36(1)(xviii) and Section 40(13)
A legal provision addressing marked to market losses in income tax calculations, effective from Assessment Year 2017-18. The rule allows specific expenditure deductions for marked to market losses when computed according to Income Computation & Disclosure Standards. Applicable to all assessees, the provision restricts deductions through Section 40(13), permitting only those losses explicitly allowable under Section 36(1)(xviii).