Short term capital gain
This query is : Resolved
CS Anuj Solanki
(Querist)
14 July 2013
Can short term capital gain arise from sell of Land/ Building, etc. set off from Short of term Capital loss which arise from sell-purchase of Shares
14 July 2013
i) If the loss and gain is in the same assessment year, set off is possible under section 70(2).
ii) If the loss is carried forward 'short term loss', then also set off is possible vide section 74(1)(a).
ii) If the loss is carried forward 'short term loss', then also set off is possible vide section 74(1)(a).
CS Anuj Solanki
(Querist)
14 July 2013
thank u sir
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