Capital gain
This query is : Resolved
10 March 2015
A asset is acquired by govt and I have long term capital loss of rupee 100000 under it
Nd 5 years after compensation is enhanced by the court ie rupee 200000
Now my qus is that, can I adjust my loss from 2 lac? Or I m liable to pay tax on 2 lac....
Thanks in advance.:)
10 March 2015
Loss can be adjusted against the LTCG of Rs.2,00,000/-if you have filed return in time showing loss Rs. 1,00,000.
11 March 2015
Mr. Chackrapani Warrier correct me if I am wrong.
Let us think in different angle of reworking the capital gain after receipt of compensation. In that case I feel we can adjust the loss against the present receipt
Let us think in different angle of reworking the capital gain after receipt of compensation. In that case I feel we can adjust the loss against the present receipt
13 March 2015
Sir
Section 45 (5)(b) does not permit to do so as you said.
Section 45 (5)(b) does not permit to do so as you said.
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