Short term loss
This query is : Resolved
28 July 2011
I have a short term capital loss on shares for an amount Rs.32039/- for the A.Y. 2011-12 and also having LTCG u/s 10(38) of Rs.50660/-. Also having income form pension of Rs.205000/- and from bank interest for rs.290000/-. Now i want to know whether i can set off loss of stcl on shares against ltcg u/s 10(38) and if no, then how can i make most beneficial return through these sources of income from saving of tax point of view???
28 July 2011
Loss can't be set off against the income exempted u/s 10(38).
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