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Futures and Options Losses to be Treated u/s 43(5)(d) Before Section 73 for Tax Compliance.
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....Speculation or non speculation loss (Business Loss) - loss incurred on futures and options (derivative transactions) - Section 43(5)(d) of the Act should have to be first given effect while computing gross total income of the assessee before applying Section 73 and its Explanation thereon. - Accordingly, the set off of F & O losses with the regular business income done by the assessee is in order. - AT....