Tax return woes won't spare even loss making traders

N

nagarajaks

New Member
#21
#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
 
C

canikhil

Well-Known Member
#22
#22
nagarajaks said:
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
Click to expand...
Dear Nagaraja,

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