Loss from capital gain

This query is : Open

Rajeev Kumar (Querist)
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04 April 2018 A salaried person purchased some share in m/o April of F.Y 2017-18 & he sold this in the m/o Nov. 17. He found loss while selling the share Rs. 7000/-. so, please tell me that how can he adjust the loss and how many years & in which ITR form he will file. please tell me in detail.

Rajeev Kumar

Bhaskaran Chackrapani Warrier

Bhaskaran Chackrapani Warrier (Expert)
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04 April 2018 Voluntary filing of ITR for fin. yr. 2017-18 is barred by time, hence rest of the issues are left open.

CA Rashmi Gandhi

CA Rashmi Gandhi (Expert)
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04 April 2018 Loss from shares covered under LTCL & same is set off from LTCG only. So you will set off same if there is LTCG in your ITR.
You can c/f same for next 8 yrs if same ia not set off.

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Susmita Dutta, CA , CPA

Susmita Dutta, CA , CPA (Querist)
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04 April 2018 If an investor held shares for less than 12 months from the date of buying then the loss is termed as Short Term Capital Loss(STCL).Which can be adjusted against Short Term Capital Gain or Long Term Capital Gain .If full amount not adjusted in the same FY it can be carried forward to subsequent 8 years.