Set off of capital loss

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SUBHASIS DAS (Querist)
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01 June 2016 A private limited company (not listed) has voluntarily wind up. Director has given unsecured loan to the company & made share capital investment. At the time of liquidation, director did not get any compensation from company. Can director claim capital loss under the head Income from Capital Gain of the Income Tax Act 1961? Can the director get indexation benefit?

Amol S Joglekar

Amol S Joglekar (Expert)
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01 June 2016 01. if the director has given it as LOAN, no deduction as such is available for waiver/non receipt of LOAN.
02. For extinguishment of share capital, s/he can claim capital loss

Rupesh Jain

Rupesh Jain (Expert)
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01 June 2016 for share Loss director can calim capital loss but for loan there in NO prov.

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