Capital gain on sale of shares
This query is : Resolved
11 March 2012
sir mr.x have earned 5 lac by way of short term capital gain in shares. tax slab on above income will be 15% flat..
now if mr.x sells some long term shares in loss.. offmarket witout paying STT. say he suffers loss on same by 4 lac.
now can he adjust dis short term STT paid gain with dat of long term Non STT paid loss..
plz guide me.
now if mr.x sells some long term shares in loss.. offmarket witout paying STT. say he suffers loss on same by 4 lac.
now can he adjust dis short term STT paid gain with dat of long term Non STT paid loss..
plz guide me.
11 March 2012
As per Section 70(3), Long term Capital Loss can only be set off against the LTCG of the same AY. So, in the above case LTCL can not be adjusted against STCG-15%.
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
- House Property Reporting in ITR
- Refund Annexure-B
- TDS Claim year
- Liable to deduct tds and 44ADA
- Rent lease agreement
- Refund of 20%pre-deposit paid for stay application
- Nomination of Bank for refund in itr 2
- Section 56(2) of the Income tax Act 1961 , Gift to relative .
- TDS Challan Code
- SGST balance is there in credit ledger how to adjust for cgst
- Internship/Academic shown in Salary Pay Slip of a Doctor
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
