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Set off loss on sale of shares

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Querist : Anonymous

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Querist : Anonymous (Querist)
06 February 2012 HELLO ,
SUPPOSE I SOLD SHARES WHICH I AM HOLDING FROM 1980 & I SUFFERED LOSS NOW BY SELLING SHARES THIS YEAR, CAN I SETOFF
THE LOSS FROM SALE OF OLD SHARES WITH CURRENT YEAR PROFIT(FROM SALE OF SHARES)?
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CA Siddhartha Bhardwaj

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CA Siddhartha Bhardwaj (Expert)
07 February 2012 Your old shares are long term capital assets.

You must have sold the shares through a stock exchange and paid STT on the sale.

Therefore, loss on sale of such shares is a capital loss which has no treatment. Such loss cannot be set off against any income.
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Querist : Anonymous

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Querist : Anonymous (Querist)
07 February 2012 thanks a lot
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