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Loss on investment of shares

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(Querist)
11 February 2014 one of friend invested in shares Rs. 50000/- but he made loss almost of Rs. 19000/- . he is filing IT return. and he is not coming in that slab to pay slab. (I T will be nil).. so how to show the loss of share investment.

he is making salary income, SB int. income and dividend income.
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C A S.S.Agarwal, M.Com.,LL.B,

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C A S.S.Agarwal, M.Com.,LL.B, (Expert)
11 February 2014 You have to find it out whether it is a short term loss or a long term loss. If long term then it is exempted and if short term then the loss can be adjusted against short term profit or to be treated as a business income or loss provided the shares are held for less than a month. If your friend has incurred losses on intraday transaction then it is to be treated as speculation loss and it can only be adjusted against speculation profit.
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kavita

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kavita (Querist)
11 February 2014 Thank you so much for reply.

it is short term loss not intraday...
but if short term profit is less than loss amount the it is to can be forward or not..
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Nikhil Kaushik

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Nikhil Kaushik (Expert)
11 February 2014 it can be carried forward...use ITR-2. provide details of capital transactions in CG-OS sheet..
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