STCL vs LTCG
This query is : Resolved
MANOJKUMAR
(Querist)
13 April 2010
I have a STCL ( Mutual funds ) Rs.-16,000/-I have a LTCG ( MF & SHARES ) Rs. 75,000/-
Can STCL be set off against LTCG ?
Can STCL be carried forward ?
Can STCL be set off against LTCG ?
Can STCL be carried forward ?
CMA.Palani Arumugam
(Expert)
13 April 2010
Short term capital loss r.w.s.94(7) in respect of units of mutual funds or UIT/Securities & 94(8) in respect of units of mutual funds or UTI :
1) can be adjusted against any capital gain in the same year.
2) Can be carry forward and set-off against any capital gain in the subsequent year.
3) Can be carry forward upto 8 years.
1) can be adjusted against any capital gain in the same year.
2) Can be carry forward and set-off against any capital gain in the subsequent year.
3) Can be carry forward upto 8 years.
13 April 2010
AGREE
MANOJKUMAR
(Querist)
13 April 2010
Thank u so much for the reply. I have one more query.
A STT of Rs.3094/- was deducted by MF Company. Can a refund be claimed for that? hows it to be treated.?
A STT of Rs.3094/- was deducted by MF Company. Can a refund be claimed for that? hows it to be treated.?
13 April 2010
STT IS NOT ALLOWABLE. YOU CAN NOT DEDUCT STT FROM YOUR INCOME.
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