STCG on debt oriented fund

This query is : Resolved

MAKARAND DAMLE (Querist)
Follow

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

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

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

MAKARAND DAMLE (Querist)
Follow

17 September 2021 it is auto adjusted after filling form
what to do

CA R SEETHARAMAN

CA R SEETHARAMAN (Expert)
Follow

17 September 2021 Wait for correction in ITR software.

You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now

Join the CA Students WhatsApp Community for ICAI Updates, Trending Courses & Notes!

Similar Resolved Queries

Unanswered Queries

Popular
Recent

Trending Online Classes

Direct Tax Laws & International Taxation May 26,Sept 26 & Jan 27

CA Arvind Tuli

Enroll Now
Audit Fast Track Recorded Batch For May 26,Sept 26 & Jan 27

CA Aarti Lahoti

Enroll Now
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English

CA Bhanwar Borana & CA Shubham Keswani

Enroll Now

view all classess

Meet our CAclubindia PRO Members

Vidit Ratanghayra

Ravi Varshney

Sreekumar J Pai

Moby Mogli

Mikilesh Shah

Subscribe Now

STCG on debt oriented fund

Similar Resolved Queries

Trending Online Classes

Meet our CAclubindia PRO Members

Quick Links

Browse by Category

Latest Job Openings

Senior Executive

Manager- Finance and Compliance

GST CONSULTANT

GST CONSULTANCY

Accountant

CA Final

Article Assistant

Associate CA