Dear Pankaj,
Please guide me in below query.
I have losses of Rs. 25000 in trading in current year 2010-11. Will I get tax exemption in filling tax return? If yes then how can do?
Regards, Vijay Kumar
1 Answers
Losses in trading can only be set-off against capital gains in trading. There is no tax exemption available for trading losses and they cannot be adjusted against any other head whether salary, Business/profession income, income from House Property etc.
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