Regarding the Loss in investment in shares
This query is : Resolved
Gurmukh Singh
(Querist)
23 February 2011
Problem: friends one of my friend is investing some of his money in shares and incurred a loss of Rs.4500/-
Now when he is going to calculate his individual tax and filing form ITR-1 .. Is this loss is to be considered as deduction or not
if yes under which section
Now when he is going to calculate his individual tax and filing form ITR-1 .. Is this loss is to be considered as deduction or not
if yes under which section
S.A.BADAMIKAR
(Expert)
23 February 2011
Loss on Sale of short term shares is eligible for set off against capital gain only. Long-term capital loss on equity shares are not eligible for setoff. Refer Section 70/71/74
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