set off of short term capital gain
This query is : Resolved
01 October 2009
In current A.Y (i.e 09-10) I have some short term capital gain & some business loss,I also have some short term capital loss brought forward from earlier years.
My query is against which should I set off current year's short term capital gain?
against business loss of current year or against short term capital loss of earlier years?
My query is against which should I set off current year's short term capital gain?
against business loss of current year or against short term capital loss of earlier years?
01 October 2009
Short term capital loss of earlier years
01 October 2009
First Current year Business loss is to be set off against current year STCG.
Balance STCG can be setoff against brought forward STCL.
First we have to go fot Inter source adjustment, next to inter head adjustment finally to carry forward of losses.
Balance STCG can be setoff against brought forward STCL.
First we have to go fot Inter source adjustment, next to inter head adjustment finally to carry forward of losses.
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