set off of STCL
This query is : Resolved
prasanna kiran
(Querist)
10 June 2016
Mr X is a resident of India having STCG & he is having STCL (on shares) from foreign in same FY. Now can he set off this short capital loss from foreign against his short term capital gain? kindly advice with supporting information if any.
CA SUNIL K GARG
(Expert)
10 June 2016
As Mr. X is resident of India, he has to show foreign income or loss in the income tax return as per section 9. Then he can set off his short term capital loss from foreign against STCG.
prasanna kiran
(Querist)
10 June 2016
Many thanks for prompt response.
CA SUNIL K GARG
(Expert)
11 June 2016
Welcome prasanna.......
CA SUNIL K GARG
(Expert)
11 June 2016
Welcome prasanna.......
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