Can carry forward loss be adjusted against current years loss in Income Tax

General
1

I have “Commodity derivative” losses of year 2010-2011 & 2011-2012

Can i adjust this loss against current years profit in “Stock Options”.

Please also let me know whether i can claim expenses against the income of Stock Options as well

Regards

Parag

2

If you have already projected the losses and got your books audited in last year’s IT return, yes can compensate with your profits this year.

Yes, you can claim expenses as well, I think. Read these blogs as well for better understanding

3

i dint got the books audited last year & even in the loss year because i didn’t needed audit. Ya but in the year of loss i projected the same in the books. So what will be the effect now? still can i adjust my profit against those losses?

4

Did you file IT returns for the loss Financial Years inclusive of your losses in the IT Return?
If the answer is No, you cannot carry forward.