I transferred some money to my wife's account (she is a home maker) from which she brought some shares in 2011. She sold the shares in 2015 at a loss. She has been filing her returns for some years now. Can she claim the capital loss on the sale of shares brought from gifted money? Income from gifts is subjected to Clubbing provisions u/s 64(1)(iv), but what happens in case of a loss?
11 June 2016
If u r taking about shares listed in the stock market you won't be able to carry forward long term loss.
In case it is any other share then you should be able to claim the loss in the same logic
CAclubindia
