Adjustment of short term capital loss from shares

5286 views 3 replies

Hello Everybody

Can brought forwarded short term capital loss from shares be adjusted against long term capital gain from sale of any assests {except LTCG from shares (STT Paid)]? Please explain the income heads against which we can adjust the short term capital loss from shares.

Kindly reply asap

Thanks

Ajay Singh

Replies (3)

Broght forward short term capital loss can be adjusted against Taxable Long Term capital gain or short term capital gain of current assessment year. Short term capital loss can be carried forward upto 8 Assessment years provided you have filed return showing loss within due date under section 139(1) of IT act.  The short term capital loss should be adjusted against the INCOME UNDER THE HEAD CAPITAL GAIN. The loss remaining after set off can be carried forward for remaining assessments years of 8 years

Originally posted by : R K SINGH

Broght forward short term capital loss can be adjusted against Taxable Long Term capital gain or short term capital gain of current assessment year. Short term capital loss can be carried forward upto 8 Assessment years provided you have filed return showing loss within due date under section 139(1) of IT act.  The short term capital loss should be adjusted against the INCOME UNDER THE HEAD CAPITAL GAIN. The loss remaining after set off can be carried forward for remaining assessments years of 8 years

I had STCG (loss) in AY11-12 (say 20000/-) & AY12-13 (say 60000/-) which I had shown in ITR-2. Further I had STCG (gain) in AY13-14 (20000/-) which I had set off against earlier years losses. Now when I am filling ITR-2 for AY14-15 in which I do not have any STCG (gain or loss), how much amount out of @ 20000/- in AY11-12 and 60000/- in AY12-13 will be my carry forward loss in AY14-15 and in which section I need to fill all those figures. If I mention 20000/- & 60000/- in CFL in relevant rows, it shown 80000/- carry forwrad which is not the case because I have already set off 20000/- in AY13-14 and I have only 60000/- effectively to carry forwrad. How I fill ITR-2. Please help.
 

Leave a Reply

Your are not logged in . Please login to post replies

Click here to Login / Register  

Company
ARTICLESHIP 20 June 2026
Articleship

RB KESHRI & CO

Mumbai

B.Com

View Details
Company
20 June 2026
Chartered Accountant

ANV & Company

New Delhi

CA

View Details
Company
22 June 2026
Finance Manager- Chartered Accountant

Triveni Turbine Limited

Bengaluru

CA

View Details
Company
ARTICLESHIP 18 June 2026
Article Assistance

RB KESHRI & CO.

Mumbai

CA Inter

View Details
Company
25 June 2026
AUDIT MANAGER

JDAS & ASSOCIATES

New Delhi

CA

View Details
Company
ARTICLESHIP 27 June 2026
CA Articled Trainee And Paid Assistant

SKAA & Associates

New Delhi

CA Inter

View Details
Company
ARTICLESHIP 08 June 2026
Internal & Taxation Article

O P Bagla & Co LLP

New Delhi

CA Inter

View Details
Company
09 June 2026
Accounts Associate

S Madan and CO

New Delhi

Graduate (Any)

View Details