Short term capital gain sett off with Business Loss
This query is : Resolved
Jayakrishnan
(Querist)
02 April 2009
Can Short term Capital Gain u/s 111 A sett off with business loss
CA JAIMIN TRIVEDI
(Expert)
02 April 2009
Yes, you can set off business loss from Short Term Capital Gain u/s 111A
Sandeep Diwan
(Expert)
02 April 2009
Yes business loss can be set off against short term capital gain . But you cannt adjust capital losses against business income.
02 April 2009
i support the experts
Taranjit Singh
(Expert)
02 April 2009
Yes it can be set off
Taranjit Singh
(Expert)
02 April 2009
But Business loss cannot be set off against salary and accordingly you will need to pay the requisite tax on your salary income and carry forward the business loss to future years and set off such loss against future taxable profits.
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