In the union budget, Had there been any changes to losses that can be carried forward in speculative trading? (for FY2014-FY2015)
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Amendment to section 73, it is kind of a relief for people actively trading. So what it says now is that, if most of your income comes from trading activity (or you declaring trading as a business), the speculative profit/losses can be considered as business profit/losses. Since it is business profit/losses, it can be set off against any other business profit/losses unlike before where you could set off any speculative profit/loss only with other speculative profit/loss.
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This is great news . One extra query Nithin . Will this be applicable for the current financial year? Willl i be able to offset losses in other buisness with these profits in trading shares if trading is my primary buisness?
Thats gr8 news.