Amendment of section 73

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Full Text of the Document

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....f April, 2015. - Clause 26 of the Bill seeks to amend section 73 of the Income- tax Act relating to losses in speculation business. The existing provisions of section 73 provide that losses incurred in respect of a speculation business cannot be set off or carried forward and set off except against the profits of any other speculation business. Explanation to section 73 provides that in case ....