Capital loss on shares
This query is : Resolved
pankaj pandey
(Querist)
19 June 2009
please can any one tell me if there is any short term capital loss and long term capital loss in A Y 2009-10 can we set of this loss to next year with any other income except salary and casual wining.
CA.SHAHZAD SAYYED
(Expert)
19 June 2009
Carry forward Short Term Capital Loss can be s/off against Short term Capital Gain OR Long Term Capital Gain only.
However note, if Long Term Capital Loss is due to Sale of Share through Stock Exchange then since LTCG is exempt u/s 10(38) so you can not s/off the LTCL against LTCG
However note, if Long Term Capital Loss is due to Sale of Share through Stock Exchange then since LTCG is exempt u/s 10(38) so you can not s/off the LTCL against LTCG
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