Capital gain

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Neel Garg (Querist)
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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.:)

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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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.

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
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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

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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13 March 2015 Sir

Section 45 (5)(b) does not permit to do so as you said.

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