Set- off
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 March 2014
If there is LTCG on house of rs.10 lac,LTCL on non listed shares is 2 lac,Investment in section 54 is 10 lacs, Whether capital loss can be carry forward?INEEDED ANSWER WITH REASON AND EXPLANATION AND WITH EVIDENCE.
15 March 2014
1. The capital gain for the current year on house is NIL.
2. There is long term capital loss on non-listed shares. Such loss can be carried forward for 8 assessment years.
2. There is long term capital loss on non-listed shares. Such loss can be carried forward for 8 assessment years.
Querist : Anonymous
Querist :
Anonymous
(Querist)
15 March 2014
BUT i THINK SOLUTION SHOULD BE :
LTCG: 10 LAC
LTCL: (2 LAC)
: 8 LAC
EXEMPTION: 8 LAC
TAXABLE LTCG: NIL
NO LTCL CANT BE CARRRY FORWARD.
LTCG: 10 LAC
LTCL: (2 LAC)
: 8 LAC
EXEMPTION: 8 LAC
TAXABLE LTCG: NIL
NO LTCL CANT BE CARRRY FORWARD.
18 March 2014
First exemption will be provided and then set-off shall be made.
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