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Section 73 - Losses in Speculation Business

Income Tax - Set off and Carry forward of Losses - 07 - SECTION - 73: LOSSES IN SPECULATION BUSINESS The loss of speculation business of any AY is allowed to be set off only against the profits and gains of another speculation business in the same AY and allowed to be carried forward to be claimed as set off in the subsequent year only against the income of any speculation business. Such loss is allowed to be carried forward for 4 AYs immediately succeeding the AY for which the loss was computed .....

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rbed capital expenditure on scientific research, the effect shall first be given to provisions of section 73 i.e. carried forward of speculation loss shall be first set off. Loss from derivative trading shall be treated as loss from non-speculative business, if transactions of derivative is done through NSE or BSE. EXPLANATION TO SECTION 73 Where any part of the business of a company (whether private or public) consists of sale and purchase of shares of other companies, such company shall be dee .....

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