Set off & carry forward
This query is : Resolved
09 January 2012
Whether short term capital loss on sale of shares on which STT is paid is exempt?
Thanks & Regards
Thanks & Regards
09 January 2012
Not exempt as a corollary to section 10(38) of the Income tax Act,1961. If you seek carry forward and set off, section 74(1)(a) permits to do so.
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09 January 2012
Thankyou Sir,
We have recommended to carry forward it u/s 74.
We have recommended to carry forward it u/s 74.
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