banner_ad

How to book loss

This query is : Resolved 
Profile Image

Profile Image

(Querist)
29 July 2015 I had purchased stocks of Malvika Steels and Optel Telecom when the two offers hit the market. Unfortunately they have gone down the drain and I lost the money.

Is there any possibility that I can book these losses into my income now even if i ignore indexation?

Look forward to your valuable advice!

Regards
Akhilesh
Profile Image

PRATIK AGRAWAL

Profile Image

PRATIK AGRAWAL (Expert)
05 August 2015 Hi Akhilesh,

Firstly sorry to hear about the loss :(.

I am assuming you have already realized the loss and you held it for more than 12 Months (as you have mentioned about Indexation)

You can take a set off of this loss only against your other Long-term Income from the current year and no other Income, provided you file the tax return on or before the due dates mentioned in Section 139(1). Also you can carry forward the loss for the next 8 years if you do not have sufficient LTCG in the current year to set off the same.

Hope if resolves your query.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now


CCI Pro
Join CAclubindia WhatsApp Finance Community & stay updated with the latest TAX news, compliance alerts and important updates all in one place!


Similar Resolved Queries


loading


Unanswered Queries


banner

Trending Online Classes

view all classess

CCI Pro
Meet our CAclubindia PRO Members
Subscribe Now

Follow us
add to google news



Answer Query



Quick Links



Browse by Category




Latest Job Openings

View all
Company
19 May 2026
Fundraising Expert

MentorsWorld Ventures Private Limited

Ahmedabad

Others

View Details
Company
ARTICLESHIP 27 May 2026
CA Article Trainee

Rahul Dang & Associates-Chartered Accountants

Pune

CA Inter

View Details
Company
01 May 2026
Chartered Accountant

Agrawal Jain & Co.

Raipur

CA

View Details
Company
29 April 2026
Associate - Audit, Tax & Compliance

Open Co Consulting LLP

New Delhi

B.Com

View Details
Company
10 May 2026
Finance specialist

Right way solution

Ajmer

CA

View Details
Company
18 May 2026
MIS Executive

Primarc Pecan Retail Limited

Mumbai

B.Com

View Details
Company
19 May 2026
Article, CA & Paid Assistant Positions

Aggarwal Sarawagi and Co

New Delhi

CA

View Details
Company
29 April 2026
Internal Auditor

SNCO

Mumbai

CA Inter

View Details