Set off of brokage incom against trading loss
bharat
(Querist) 22 November 2012
This query is : Resolved
dear sirs,
i am an member of mcx (multi commodity exchange of inda)my firm is corporate i would like to know
1. my brokage incom would be setoff against trading loss
please let me know
looking forward to hear from you
thanks
bharat
Devajyoti Barman
(Expert) 23 November 2012
Do you have any agreement with the firm?
If yes then it needs to be seen.
If option of set off is there then it could be done. Else you have to make good the loss.
M V Gupta
(Expert) 23 November 2012
u need to elaborate ur query. For claiming set off the parties should be the same and the claims should have arisen in their dealings with each other. Trading losses are generally to be born by the party sustaining it. Loss cannot by its very nature be passed on to another person. Hence it is doubtful whether the losses can be claimed as set off against the other party.
