Set off of short term capital loss
This query is : Open
21 July 2017
Hi,
I have C/f STC Loss of Rs. 50,000/- pertaining to A. Y. 2014-15.
In this year (A. Y. 2017-18) , I have made STCG of Rs 41,000/-.
My total income including the STCG is below 2.5 lacs. Hence, no tax.
Can I choose NOT to set-off STC Loss against the STCG of this year and carry forward the entire STC Loss of Rs. 50,000/- to subsequent years?
Case Law if any would be highly appreciated.
Thanks,
Niki.
I have C/f STC Loss of Rs. 50,000/- pertaining to A. Y. 2014-15.
In this year (A. Y. 2017-18) , I have made STCG of Rs 41,000/-.
My total income including the STCG is below 2.5 lacs. Hence, no tax.
Can I choose NOT to set-off STC Loss against the STCG of this year and carry forward the entire STC Loss of Rs. 50,000/- to subsequent years?
Case Law if any would be highly appreciated.
Thanks,
Niki.
CA Rashmi Gandhi
(Expert)
21 July 2017
No, you can't do that.
Not set off income after having income can't c/f.
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