short term capital loss
This query is : Resolved
19 November 2010
Can you adjust Accumulated loss (over a period of 3 years) by the way of speculative share trading with profit on sale of property (within 6 months of purchase)
CA Sanat Pyne
(Expert)
19 November 2010
NO ,
BECAUSE PROFIT ON SALE OF PROPERTY WILL BE TREATED AS SHORT TERM CAPITAL GAIN.
BECAUSE PROFIT ON SALE OF PROPERTY WILL BE TREATED AS SHORT TERM CAPITAL GAIN.
CA.ViVeK M ACA
(Expert)
19 November 2010
What Yaar
Speculative business is treated as a separate and distinguish business. Any speculative loss cannot be set off againt other business income or other head rather can set off against the speculative profit.
Nothing can be set off against other income
Speculative business is treated as a separate and distinguish business. Any speculative loss cannot be set off againt other business income or other head rather can set off against the speculative profit.
Nothing can be set off against other income
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