Set off capital gains query

This query is : Resolved

rajendra rao (Querist)
Follow

18 November 2021 LTCG OF 53000 & STCG OF 84000 FROM SHARE TRADING.CARRY FORWARD LOSS FROM FY2019-20 IS 2.3 LAC.PENSION PLUS OTHER INCOME 6.5 LAC AFTER AVAILING ELIGIBLE DEDUCTIOS UNDER 80C,80G,80TTB.USING COMPUTAX SOFTWARE ATTEMPTING SET OFF OF STCGOF 84000 LED TO SETTING OFF OF LTCG OF 53000 ALSO WHICH I UNDERSTAND IS WRONG SINCE LTCG UPTO 1LAC IS EXEMPT.PLEASE ADVISE WHAT TO DO.THANKS
RAJENDRA RAO

Dhirajlal Rambhia

Dhirajlal Rambhia (Expert)
Follow

18 November 2021 Rule for adjustment of bought forward capital losses:
In the subsequent year(s), such loss can be adjusted only against income chargeable to tax under the head “Capital gains”.
however, long-term capital loss can be adjusted only against long-term capital gains.
While short-term capital loss can be adjusted against long-term capital gains as well as short-term capital gains.
The adjustment is mandatory against the current year gains, even if it may not be taxable.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Rakesh Maner

Credible HRM

Jai Solanki

Ashif Cheenikkal

sandhya.v

Subscribe Now

Set off capital gains query

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA