Loss in shares
This query is : Resolved
30 March 2014
I had lost 1lac in shares. Can I get any exemption in any section, while filing IT returns??
30 March 2014
You have not stated how you have incurred the loss. It is by way of intera day transaction if yes then this is a speculation loss and shall be adjusted only when you earn speculation profit otherwise it will be carried forward. If you are dealing in securities on frequent purchase and sale basis and the holding period is less then 30 days then it is business income and can be adjusted against profit from other securities. If it is listed securities is above 3 months and below 1 year then this is a short term loss and can be adjusted only against short term profit. If the loss is for shares held by you for over 1 year then it is a capital loss and cannot be adjusted from any other income
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
- GSTR-1A How to update Invoice
- Excess salary payment.
- Current Account Opening for Sole Proprietorship with Udyam Certificate - Zero Turnover
- INTEREST APPLICABLE ON ITC REVERSAL PORTION
- TDS on Purchase of Immovable Property by NRI from NRI
- Capital gain from sale of house property
- Stamp Paper for partnership firm change new income tax 2025
- SFT Cash Deposit in Current Account
- Value of property in capital gain
- FORM 26A APPLICABILITY
- GST Treatment of Insurance Commission for Existing GST Holder
- Cash gift by grand mother to her grand daughter
- Tax amount diff in Gstr1 and 3B in tax compare reports
- Tds on GST in connection with sale to public company
- Restoration of certificate of practice
- Regarding change in correspondence address in SSP portal
- No Compliences after incorporation
- USEFUL LIFE OF USED/SECOND HAND COMMERCIAL VEHICLES
- Claiming TDS deducted by builder on Hardship compensation and Corpus
- Address Change to another state of a Registered Trust with 12AB approval
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
