Carry Forward of Long Term Capital Loss on Shares (STT Paid) - Income Tax Forum - Chartered Accountants India,Taxpayers, CAs India, CA india ,ICAI, Company Secretary ,CS, Cost Accountants, MBA, Finance Professionals

Follow Us on Twitter

Discussion > Income Tax > Others > Carry Forward of Long Term Capital Loss on Shares (STT Paid)

Post New Topic

Pages : 1

There are 4 Replies to this message

shreyas
Student
[ Scorecard : 245]

Posted On 06 August 2009 at 22:32

Report Abuse

Report Abuse / Feedback

Note : The above form can be used to intimate the moderators regarding abuse of the platform.

Whether Long Term Capital Loss on Shares on which STT is paid is to be carried forward????

s.kripa harish
PCC STUDENT
[ Scorecard : 148]

Posted On 07 August 2009 at 08:56

Hi Shreyas as it is exempt we cannot carry forward the LTCL......we can deduct it from LTCG and show the remaining in the Exempt Column....if my view is wrong sorry for that....

@m!t B. "keep $m!l!ng"
CS & CA Final
[ Scorecard : 2439]

Posted On 07 August 2009 at 11:18

Hi Shreyas..

LTCG arising form transfer of Shares on which STT is paid is exempt u/s 10 (38) from capital gain tax.

Since Income is exempt we can not take benefit of Loss of the same, So we can not carry forward the Loss on LTCG on Shares

Ashish M

CA Final_May10
[ Scorecard : 2074]

Posted On 08 August 2009 at 00:16

LOSSES FROM THE SOURCES FROM WHICH THE INCOME IS EXEMPT CAN'T BE CARRIED FORWARD............

Ragini
Student (PCC)
[ Scorecard : 164]

Posted On 10 August 2009 at 07:50

i agree with all of them

losses of an exempt income cannot be carried forward

Previous Thread

Next Thread