Carry Forward of Short Term Capital Loss
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
20 July 2011
Case: A per son is engaged in the sale-purchase of shares (trading) through a recognized share broker. All shares belong to listed company and sale purchase is being made on intra-day basis (i.e. short term). Security Transaction Tax is also applicable on above relevant transactions.
Query: If such person face short loss in above transactions, can he carry forward his short term capital loss and offset against any capital gain in subsequent year(s) (i.e. up to 8 years). Person is also earning income from salary along with share trading.
Kindly update with relevant provisions.
Query: If such person face short loss in above transactions, can he carry forward his short term capital loss and offset against any capital gain in subsequent year(s) (i.e. up to 8 years). Person is also earning income from salary along with share trading.
Kindly update with relevant provisions.
20 July 2011
to qualify the shares for short term capital gain, it must be transacted through delivery ........ i.e routed as delivery in demat then sale, intraday is speculation for investor and business for trader.
businss loss can be carried forward, stcg can be carried forward, but not the speculation
businss loss can be carried forward, stcg can be carried forward, but not the speculation
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