Tax return woes won't spare even loss making traders

#21
Hi,
I have sold some residential site and have Long Term Capital Gain on it. Part of the above Capital Gain, I have placed in REC CapGain Bonds. But, I l also have losses in Futures & Options Trading.

Can I do the following while filing my IT Return???
1) Claim tax benefit from my investment in REC CapGain Bonds
2) Set-off the F&O losses (treating as Business Loss) against remaining Gain from property sale ...Any quick advice is appreciated, since I will perhaps have to get auditing done, if above is possible.

Thanks,
Nagaraja
 

canikhil

Well-Known Member
#22
Hi,
I have sold some residential site and have Long Term Capital Gain on it. Part of the above Capital Gain, I have placed in REC CapGain Bonds. But, I l also have losses in Futures & Options Trading.

Can I do the following while filing my IT Return???
1) Claim tax benefit from my investment in REC CapGain Bonds
2) Set-off the F&O losses (treating as Business Loss) against remaining Gain from property sale ...Any quick advice is appreciated, since I will perhaps have to get auditing done, if above is possible.

Thanks,
Nagaraja
Dear Nagaraja,

Yes you can adjust the capital gains against REC bonds and the balance against F&O losses.
 

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