Capital Gain TAx Saving
This query is : Resolved
14 June 2008
my client purchased a office at 10lacks
sell it at rs.23 lacks within 1year and purchased a new house for 35lacs.
he also bear short term share loss rs.3lacs.
can he save capital gain tax with short term share trading loss.
please also suggase any plan to save tax
sell it at rs.23 lacks within 1year and purchased a new house for 35lacs.
he also bear short term share loss rs.3lacs.
can he save capital gain tax with short term share trading loss.
please also suggase any plan to save tax
31 March 2012
The gain arising on the sale of the office is short term capital gain.
The short term capital loss arising on sale of shares can be set off against short term capital gain.
There is no option to save tax, since exemptions are only for Long term capital gain.
The short term capital loss arising on sale of shares can be set off against short term capital gain.
There is no option to save tax, since exemptions are only for Long term capital gain.
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