Short Term Loss

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

10 December 2009 Can anyone please tell if one can write off short term losses made in stock market against salary income. Thanks in advance.

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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10 December 2009 Sorry, You cannot adjust the Short term capital loss against Salary Income.

Querist : Anonymous

Querist : Anonymous (Querist)

10 December 2009 Can we and if yes for how many years one can carry short term losses to write off against short term profit if any. Also against what other income can one write off short term losses. Thanks

CMA Ramesh Krishnan

CMA Ramesh Krishnan (Expert)
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10 December 2009 You can carry forward the loss up to 8 years immediately succeeding to the year of loss .and can be set off income under the head capital gain any capital gain (Short term & Long term) but your return of Loss should be filed to income tax with in due date

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