Set off Short term capital losses
This query is : Resolved
21 March 2021
Dear Sir
I purchased Medium term bond funds in Dec 2020 and sold them in Feb 2021 and in the process I incurred capital loss. Can we set off these losses under the head " Income from other sources" when filing Income Tax Return for AY 2021-22 ?
I purchased Medium term bond funds in Dec 2020 and sold them in Feb 2021 and in the process I incurred capital loss. Can we set off these losses under the head " Income from other sources" when filing Income Tax Return for AY 2021-22 ?
21 March 2021
The Income Tax does not allow loss under the head capital gains to be set off against any income from other heads – this can be only set off within the ‘Capital Gains’ head
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