Capital gain set off against pgbp income
Ankush (Student) (1309 Points)
19 October 2019
Dipesh Jha
(PRACTICE )
(673 Points)
Replied 19 October 2019
Kapadia Pravin
(17249 Points)
Replied 19 October 2019
Suresh Thiyagarajan
(Student)
(3986 Points)
Replied 19 October 2019
1. According to sec 74 loss under the head capital gains will be allowed to be set it off only against income under the same head.
2. STCL can be set it off against another STCG and LTCG. Whereas LTCL cannot be set it off against STCG.
3. No, loss under the head capital gains will not be allowed to be set it off against income under the head PGBP.
Please correct me if the above solution has an alternative view.
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