F&O Loss...related, Income Tax

[Nagaraja KS]

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

Posts / Replies

[DR.MARIAPPAN GOVINDARAJAN]

Have you get clarification in this issue. If not please inform.