Adjustment of Long Term Capital gain against Business loss
This query is : Resolved
16 March 2011
I have business loss of 11 crores and long term capital gain on sale of land 5 crore can i adjust this long term capital gain against business loss u/sec 71.please send me reply asap.
16 March 2011
yes u can if it is non speculation business loss
30 March 2011
Hi,
Business Loss can be set off with LTCG, however the other way round is not possible.
Thank you,
Regards
CA. Lohith. J
B.Com,ACA,CS,(ICWA),SAPM Hons,ITF Hons
Business Loss can be set off with LTCG, however the other way round is not possible.
Thank you,
Regards
CA. Lohith. J
B.Com,ACA,CS,(ICWA),SAPM Hons,ITF Hons
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