set off and carry forward of losses
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
23 July 2011
Could we set off loss from trading in Equity derivatives and F & O trading on NSE from the income from short term capital gains arising from sale of property in the same financial year?
23 July 2011
Yes, against the income of STCG of current year, current year's losses can be set off.
The loss in your case is a non-speculative loss U/s 43(5), and as such you can set it off against STCG.
The loss in your case is a non-speculative loss U/s 43(5), and as such you can set it off against STCG.
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