Setting off income from shares vs business loss
This query is : Resolved
02 July 2011
I have started a new business in education which will be profitable only a year or two later. I have significant income from shares (short-term) taxable at 30% slab. Should I move the shares/investing activity to the company, so I can set-off losses from education biz vs profits from shares ... effectively saving on tax?
03 July 2011
Dear Kapil,
You are thinking in a right way of Tax planning by way of future prediction. In my view if you are sure that you are going to generate capital gains in the coming years which is very difficult to predict then you can trade in shares in company's account and set off the losses from education business from it.Thus you can save your taxes.
Regards
Abhisek Tosniwal
You are thinking in a right way of Tax planning by way of future prediction. In my view if you are sure that you are going to generate capital gains in the coming years which is very difficult to predict then you can trade in shares in company's account and set off the losses from education business from it.Thus you can save your taxes.
Regards
Abhisek Tosniwal
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