Capital loss - short term on stt paid shares

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Querist : Anonymous

Querist : Anonymous (Querist)

14 July 2015 If I have a carried fwd short term capital loss on STT paid shares - (Not speculative)- can this loss be set off against long term capital Gain on sale of Land. Pls give reasons for the answer

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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14 July 2015 No, inter head adjustment is not possible for carry forward loss.

Ankur Singhal

Ankur Singhal (Expert)
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14 July 2015 Agree with Mr. Seetharaman.
And the reason is this is stated in the ACT.

CMA Gul S

CMA Gul S (Expert)
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14 July 2015 Agreed with Mr Seetharam and Mr Ankur

Querist : Anonymous

Querist : Anonymous (Querist)

14 July 2015 All experts agree but as per the Act Section 74(a) short term capital loss can be carried fwd and set off against Capital Gain income. Kindly check before answering as experts. My question was specific relating to short term capital loss on stt paid shares