STCL against LTCG
This query is : Resolved
Anupam Sharma
(Querist)
18 July 2011
Sir,
I have STCL from sale of shares through exchange in year 2008, which i have shown in my tax return and carried it forward. In year 2010 i have LTCG from sale of residential property. Now, can i offset the carried forward STCL against this LTCG in my 31 july 2011 return. Different CAs have different opinion about this. I shall be grateful to you if you answer this query. Regards, Anupam
I have STCL from sale of shares through exchange in year 2008, which i have shown in my tax return and carried it forward. In year 2010 i have LTCG from sale of residential property. Now, can i offset the carried forward STCL against this LTCG in my 31 july 2011 return. Different CAs have different opinion about this. I shall be grateful to you if you answer this query. Regards, Anupam
18 July 2011
Yes you can set off
Short term capital Loss can be adjusted against other capital gain whether Long term capital gain or short term capital gain
Short term capital Loss can be adjusted against other capital gain whether Long term capital gain or short term capital gain
CA Ashwani Agarwal
(Expert)
18 July 2011
I agree with the expert.
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