TaxTMI 
TaxTMI 
CAN PROFIT IN STOCK(DERIVATIVE) US MKT BE OFFSET WITHC/F LOSSES IN DERIVATIVE INDIAN MKT
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....AN PROFIT IN STOCK(DERIVATIVE) US MKT BE OFFSET WITHC/F LOSSES IN DERIVATIVE INDIAN MKT<br> Query (Issue) Started By: - satinder chadha Dated:- 24-11-2011 Last Reply Date:- 4-12-2011 Income Tax<br>Got....
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.... 2 Replies<br>Income Tax<br>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 of....
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....fset his proprietary concern derivative losses with profits from individual account in derivative trading in USA? Reply By Deepak Nagori: The Reply: Dear Satinder, Income tax Act does not make any ....
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....distinction for profits / losses in India or in foreign countries for residents. So assuming X is a resident, he can offset the losses in India from profit in foreign country. Also derivative transact....
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....ions are not speculative transactions u/s 43(5). Hence b/f losses upto 8 years before are eligible for set off against the foreign profits. Regards CA Deepak Nagori Reply By satinder chadha: The Re....
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....ply: Thank you sir.I am overwhelmed by the pain you have taken to answer the question.Thank you sir once again.<br> Discussion Forum - Knowledge Sharing ....