Question ID : 32751

How to claim losses of future & option

As we know that future & option are no more speculative business.Now it is treated as normal business. Many salried person having future & option transaction & they have suffered losses.. One of my client is incurred net losses 10Lakh comprise of Total 14 lakh and 4 lakh profit.. In case of future and option TURNOVER= 18 LAKH (14 lakh +4 lakh).. Now my question is how will book expenses of 8 lakh,to show losses of 10 lakh as brokerage,consultancy,internet & other exp is not more than 2 lakh ?????

posted by Anit Mohapatra on Jul 26 2018 12:00AM