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?"
Amol S Joglekar
(Expert)
09 September 2016
short term capital loss ca be set off against long term capital gain
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