Section 70 ,71
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
12 December 2012
Dear sir/madam
I have long term loss of shares in current year and brought forward also.In current year i am having long term gain on sale of plot.
so can i set off such loss against LTG from plot.And if i m filing revised return ,whether sec 234 int applicable ?? from which date.
I have long term loss of shares in current year and brought forward also.In current year i am having long term gain on sale of plot.
so can i set off such loss against LTG from plot.And if i m filing revised return ,whether sec 234 int applicable ?? from which date.
12 December 2012
First of all if you have long term loss on sale of shares(stt paid) then it will not be allowed to c/f and set off. As income from such is also exempt.
So you wont be able to set off such.
Interest u/s 234A will not be applicable if you are filing revised return.
Regards,
Chirag M. Haraniya
So you wont be able to set off such.
Interest u/s 234A will not be applicable if you are filing revised return.
Regards,
Chirag M. Haraniya
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