Loss from sale of shares for short term
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
04 August 2011
Sir,
1. If share are sold (STT paid) for profit in short term it is taxable or not? if so what extent?
2. If shares are sold (STT paid) for loss in short term that loss will be set off or carry forwarded?
Please give reply
1. If share are sold (STT paid) for profit in short term it is taxable or not? if so what extent?
2. If shares are sold (STT paid) for loss in short term that loss will be set off or carry forwarded?
Please give reply
04 August 2011
Yes, any short term profit on sale of shares(STT paid) is taxable @ 15%.
Any short term loss on sale of shares(STT paid) is set off against profit on short term profit on sale of shares(STT paid)
Any short term loss on sale of shares(STT paid) is set off against profit on short term profit on sale of shares(STT paid)
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