Capital gain
This query is : Resolved
26 November 2013
can we set off short term loss of equity share where stt paid is set off against long term capital gain of gold
CA PARAS BAFNA
(Expert)
26 November 2013
Yes. Current years STCL can be set off against the LTCG of the current year.
Section 70(2).
.
Section 70(2).
.
Message likes :
1 times
CA PARAS BAFNA
(Expert)
26 November 2013
If loss in shares is "termed" by you as short term, it is to be understood as capital loss. Shares held/bought with the intention of investment, are treated as capital asset.
.
In case the loss has been generated by trading in shares (not from day trading), then also it can be set off. Section will be different. Section 71(2) will apply in that case.
.
.
In case the loss has been generated by trading in shares (not from day trading), then also it can be set off. Section will be different. Section 71(2) will apply in that case.
.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
- ITC not to be taken in accounts & GSTR-3B
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
