44ADA and Stock Market Loss
This query is : Resolved
Rohit Gupta
(Querist)
24 March 2023
Hi, I file my income tax under section 44ada
I have some stocks in my demat from March 2020, which are in loss of 80k at the moment.
If I book loss in my stocks, will I be able to set it off against profit from my profession (I am a website developer).
Or I have to carry forward loss?
Any other way to set off this loss with my income?
I have some stocks in my demat from March 2020, which are in loss of 80k at the moment.
If I book loss in my stocks, will I be able to set it off against profit from my profession (I am a website developer).
Or I have to carry forward loss?
Any other way to set off this loss with my income?
CA R SEETHARAMAN
(Expert)
24 March 2023
It's long term capital loss to be carried forward and to be set off against long term capital gains only.
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