Capital Gain / Loss

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AMIT KUMAR (Querist)
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08 September 2009 Respected Sir,

My question is for Capital GAIN AND LOSS.

CAN WE SETUP SHORT TERM CAPITAL LOSS FROM SALE OF SHARES TO SHORT TERM CAPITAL GAIN FROM SALE OF PROPERTY ?

REGARDS,

Amit Kr.

delhi009@yahoo.co.in

Nischint Kumar Somani

Nischint Kumar Somani (Expert)
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08 September 2009 ya u can setoff..

Late CA Sampat Jain

Late CA Sampat Jain (Expert)
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08 September 2009 SECTION 70(2)

(2) Where the result of the computation made for any assessment year under sections 48 to 55 in respect of any short-term capital asset is a loss, the assessee shall be entitled to have the amount of such loss set off against the income, if any, as arrived at under a similar computation made for the assessment year in respect of any other capital asset.

CA CHINTAN AJMERA

CA CHINTAN AJMERA (Expert)
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08 September 2009 Yes u can set off

Guest

Guest (Expert)

08 September 2009 ya, u can set off short term capital loss from sale of share against short term capital gain from sale of property subject to that short term capital loss from sale of shares is not from speculation business.