Regarding set off of losses.
This query is : Resolved
CA Mehta Ankur N.
(Querist)
23 August 2012
Respected Sir,
I want to know weather we have to compulsory set off long term capital gain on sale of shares which is exempt u/s 10(34)/(35)against short term capital gain on sale of shares or we can carry forward loss on sale of shares and enjoy the exemption for long term capital gain ???
Thanking you in advance for your valuable suggestion sir . . .
I want to know weather we have to compulsory set off long term capital gain on sale of shares which is exempt u/s 10(34)/(35)against short term capital gain on sale of shares or we can carry forward loss on sale of shares and enjoy the exemption for long term capital gain ???
Thanking you in advance for your valuable suggestion sir . . .
CA VISHNU GAVKARE
(Expert)
24 August 2012
You can not set of loss of source income of which is exempt. Hence loss from shares exempt u/s. 10(34) can not not be set of against any income. Further no loss can be set off against exempt Income.
Deepanshu Agg.
(Expert)
22 September 2012
Agreed with CA vishnu
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
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Issuing of delivery challan by seller of goods
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- Transfer of Physical Stock Between Two Proprietorship Concerns
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- EPF ECR NEW RULES Sep 17th 2026
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
