Set off against short term loss of debt fund
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
09 September 2016
I have some confusion about set off against short term loss
We invest our money in ultra short term debt fund as a liquid plus fund as weekly dividend pay out option. When we enter in fund then fund NAV was Rs. 10.1333 and after six day they declare their NAV Rs. 10.1464 and next day they declare dividend per unit Rs. 0.03441 after deduct DDT. And NAV goes to Rs. 10.1000. and in next mid week we withdraw all money from this fund and getting short term loss in total money as per unit Rs. 0.0333 because we enter at Rs. 10.1333 and now it is 10.1000 this is my notional loss. I got tax free dividend also so, we get total money back but in books of account I getting Some portion as loss and some portion as dividend. In this same year, as per my prior transaction I have long term capital gain to sale of Land. So, my question is "May I set off this type of short term loss against my long term capital gain?"
We invest our money in ultra short term debt fund as a liquid plus fund as weekly dividend pay out option. When we enter in fund then fund NAV was Rs. 10.1333 and after six day they declare their NAV Rs. 10.1464 and next day they declare dividend per unit Rs. 0.03441 after deduct DDT. And NAV goes to Rs. 10.1000. and in next mid week we withdraw all money from this fund and getting short term loss in total money as per unit Rs. 0.0333 because we enter at Rs. 10.1333 and now it is 10.1000 this is my notional loss. I got tax free dividend also so, we get total money back but in books of account I getting Some portion as loss and some portion as dividend. In this same year, as per my prior transaction I have long term capital gain to sale of Land. So, my question is "May I set off this type of short term loss against my long term capital gain?"
09 September 2016
short term capital loss ca be set off against long term capital gain
Message likes :
1 times
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
- House Property Reporting in ITR
- TDS Claim year
- Relief u/s Section 89
- Rent lease agreement
- TDS Challan Code
- CCFS 2026 Schemed
- Entries in AIS regarding sale of units and shares
- Lease agreement and tax on sale
- STCG on ETF gold & silver
- If there is Long term capital gain exists how much total income to be considered
- Sales amount in Gstr1
- Is it compulsory to File 10E if Income including Pension Arrears is below 12 Lakh for the F Y 25 26
- Suggestions required for income tax filing-software (FY 2025-26)
- Tax liability on income of freelancer
- Is E Way Bill Valid If Transport ID Not Mentioned in PART A But Vehicle details mentioned in PART B
- Section 43B(h) – MSME Invoice Paid Before Year End but After 45 Days
- Taxation on LTCG for property sold after 24JUL2024
- E Commerce GSTR1 & 3B how to file
- GST Cancellation without jurisdiction
- Legal Opinion on Registrar's Refusal to Investigate a Society for Non-Renewal and Non-Compliance
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
CAclubindia
