Capital Gain

PRAVIN SHINDE (Assistant Manager) (25 Points)

16 January 2021

ITR -3 is not allowing to setoff grandfathering loss of one share with grandfathering profit in other shares. Is it not permissible under IT Act ??

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7 Replies

CA. Sourav Sarkar (Chartered Accountant ) (24588 Points)
Replied 16 January 2021

Grandfather loss doesn't get set off in your income tax return form. Grandfather loss can be set off against his IT return

PRAVIN SHINDE (Assistant Manager) (25 Points)
Replied 16 January 2021

Grandfather loss can be set off against his IT return......what do you mean ???

CA. Sourav Sarkar (Chartered Accountant ) (24588 Points)
Replied 16 January 2021

Grandfathering loss means???

Giridhar S Karandikar (Team Lead) (7553 Points)
Replied 16 January 2021

Please refer any YouTube video, you will get understanding of the term GL.

Krishna Chaudhary (Accountant) (4531 Points)
Replied 16 January 2021

Elaborate ur question pls??

Smit Shah (524 Points)
Replied 16 January 2021

Is the profit is below 1 lakh

PRAVIN SHINDE (Assistant Manager) (25 Points)
Replied 16 January 2021

No. That’s why asking....

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