LONG TERM CAPITAL LOSS
This query is : Resolved
Saurabh Jindal
(Querist)
08 August 2009
IS THERE ANY USE TO CARRY FORWARD LONG TERM LOSS ON LISTED SHARES,SINCE LTCG ON LISTED SHARES IS EXEMPT?
PLZ RPLY AS SOON AS POSSIBLE.
REGARDS,
SAURABH
PLZ RPLY AS SOON AS POSSIBLE.
REGARDS,
SAURABH
08 August 2009
you can carry forward and set it off against any other long term capital gain.
CA Gangadhar Mishra
(Expert)
08 August 2009
since LTCG on sale of listed shares/mfs are exempted from capital gain tax, the LTCL on such shares can not be set off from any other head of income nor from the income from capital gain, so, in my opinion there is no use in CF of such LTCL.
08 August 2009
agree with Mr. Mishra
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