STCG on debt oriented fund
This query is : Resolved
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MAKARAND DAMLE
(Querist)
16 September 2021
Assessee has Short Term Capital Gain without indexation from Debt Oriented Fund
He also has Long Term Capital Loss on sale of shares
After filling details in ITR 2 it is setting off Short Term Capital Gain without indexation from Debt Oriented Fund against Long Term Capital Loss on sale of shares and balance loss is c/f to next year
My question is whether above loss adjustement is correct
He also has Long Term Capital Loss on sale of shares
After filling details in ITR 2 it is setting off Short Term Capital Gain without indexation from Debt Oriented Fund against Long Term Capital Loss on sale of shares and balance loss is c/f to next year
My question is whether above loss adjustement is correct
CA R SEETHARAMAN
(Expert)
16 September 2021
Not right, as per the provision under Income Tax Act, the Long Term Capital Loss can be set off only against Long Term Capital Gains.
MAKARAND DAMLE
(Querist)
17 September 2021
it is auto adjusted after filling form
what to do
what to do
CA R SEETHARAMAN
(Expert)
17 September 2021
Wait for correction in ITR software.
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