LONG TERM CAPITAL GAIN
This query is : Resolved
PURNACHANDRARAO G
(Querist)
17 July 2010
WHERE CAPITAL GAINS EXEMPTED U/S 10(38). IS IT CARRY FORWARD IF CAPITAL LOSS
17 July 2010
Long term capital gains is exempted under section 10(38) to those cases referred in the said section. However if there is long term capital loss it cannot be carried forward since harmonious interpretation has to be adopted.
More over the wordings used in the section is" any INCOME".
Income can be profit or loss and if profit is exempted, so necessarily loss should also be exempted.
More over the wordings used in the section is" any INCOME".
Income can be profit or loss and if profit is exempted, so necessarily loss should also be exempted.
CA Ravi Sisodia
(Expert)
17 July 2010
agree with sir, long term capital loss u/s 10(38) it cannot be carried forward.
17 July 2010
agreed
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
- Reward for festival
- GSTR9 Annual Return
- Employee secondment
- Clarification on GST, TDS, and Accounting Provisions for Import/Export Commission Agents,profes. ser
- Clarification on GST, TDS, and Accounting Provisions for Import/Export
- Ito add credit side of bank
- Rent agreement of House of deceased person
- Import of Capital Machine
- Form 144 TDS Return Validation error
- Appointment of Auditor By Form ADT-1
- Upload Level ValidationITR3Category of Defect B/D
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
- How to get money back from delisted company
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
