capital gains....
This query is : Resolved
27 August 2009
wether long term capital loss, on shares, on which STT is paid, be adjusted from long term capital gain from sale of d building????
27 August 2009
Yes the same is allowed as the section speaks only about LTCG STT paid being exempt and if there is loss there is nothing to state that the same will not be allowed to be carry forward or set off.
If u need further details leme know il send you the latest circular on this.
If u need further details leme know il send you the latest circular on this.
Message likes :
1 times
27 August 2009
If income from a source is altogether exempt from tax{here exempt u/s 10(38)}, loss from that source cannot be set off against income from a different source or income under a different head or income under the same head.
Citation:- CIT Vs. S.S.Thiagarajan (1981) 129 ITR 115 (Mad).
In view of the above, my answer to your question is NO.
Citation:- CIT Vs. S.S.Thiagarajan (1981) 129 ITR 115 (Mad).
In view of the above, my answer to your question is NO.
Message likes :
1 times
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
- Gst registered proprietorship firm
- TDS Challan - change of FY 2025-26 to TY 2026-27
- AUDITOR APPOINTMENT FOR THE YEAR ENDING MARCH 27
- Non filing of I T Returns
- UDIN ISSUE
- SALARY CAN BE CAPITALIZE
- GST Intimation due to Government took possession of Business Premises under PPE Act
- TDS on Fixed Assets purchased
- TDS on purchase of under construction property from a reseller
- How to Handle Active E-Invoices in GST Portal Deleted from Tally?
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Starting trading business
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
