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.
21 July 2017
No, you can't do that.
Not set off income after having income can't c/f.
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