Capital gain mtr
This query is : Resolved
manoj rathod
(Querist)
26 July 2011
respected sir
pls guide me
i have short term capital gain 500000
short term loss 100000
suppose i filed IT return on 15 AUG means after due date
can i deduct short term loss from short C/G & pay tax on (500000-100000)= Rs. 400000/
pls guide me
i have short term capital gain 500000
short term loss 100000
suppose i filed IT return on 15 AUG means after due date
can i deduct short term loss from short C/G & pay tax on (500000-100000)= Rs. 400000/
26 July 2011
Till there is profit under this head after set of profit against losses you can but if it loss then also you can but the losses shall not be allowed to be carried forward in next year
manoj rathod
(Querist)
27 July 2011
thanking you sir
Preety Parik
(Expert)
27 July 2011
Yes u can set off loss even though the return is filed after due date. Loss cannot be carried forward if return is filed after due date.
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