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Business loss set off from STCG

ajay upadhyay (21 Points)

12 December 2019

whether business loss can be set off from short term capital gain ?
please clear.

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3 Replies

CA VISHAL JAIN (Chartered Accountant) (88 Points)
Replied 12 December 2019

Yes Ajay if the loss from business or profession is of same F.Y then you can set of from short term capital gain otherwise you can't. (Taking such loss is from non speculative business).

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sanjith kotni (Articled assistant) (663 Points)
Replied 12 December 2019

Make sure that it is business loss excluding unabsorbed depreciation as unabsorbed depreciation can even be set off from future years any income including STCG also

Kapadia Pravin (17259 Points)
Replied 13 December 2019

Business loss other than speculative business can be set off against any head of income except except income from salary.

This is inter-head set off of same FY.