Loss on government bond
This query is : Resolved
16 July 2014
If A Ltd has purchased Govt bond in December,2013 @ Rs.1050.
The said A Ltd has received interest of Rs.45 on the same in Feb,2014.
Now, the Govt bond is sold @ Rs. 1010 and there is a loss of Rs.40. whether this loss will be treated as Short term loss ? What would be the empact of Rs. 40 as per income Tax Act.
Many many thanks.
The said A Ltd has received interest of Rs.45 on the same in Feb,2014.
Now, the Govt bond is sold @ Rs. 1010 and there is a loss of Rs.40. whether this loss will be treated as Short term loss ? What would be the empact of Rs. 40 as per income Tax Act.
Many many thanks.
17 July 2014
yes its short term loss only and u can set it off against any capital gain.
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
- STCG....................................................
- Supply through E-commerce Operators
- Sales return eway bill
- AMOUNT RECEIVED UNDER COMPULOSRY ACQUISITION OF AGRICULTURAL LAND
- Relief u/s Section 89
- GST ON DAMAGED GOODS
- E way bill for tractors
- GST Rate applicable for 0% Food Items sold by an Industrial Caterer
- Specified Profession
- Suggestions required for income tax filing-software (FY 2025-26)
- TAN for Partnership
- Section 54F - Exemption on LTCG in 2026 for HP purchased in 2023
- Sales amount in Gstr1
- CG after sale of flat
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
- GST Refund_RFD-01
- Form10BD was uploaded successfully without any Error but after 24 hours, Form10BE are not available
- Annexure B utility for GST Refund
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
