Capital Loss can be set off in salary income

Tax queries 2828 views 2 replies

hi,

whether we can show the capital loss in salary income

please suggest me

 

 

Replies (2)

Capita loss cannot be set off against any other heads of income sec 70 and 71

only shart term capital loss can be set against capital gain (whether short term or long term)
 

You can carry forward capital loss

Loss under the head “Capital Gain” can not be set-off against income under other heads of Income. Long-Term Capital loss can be set-off against Long Term Capital Gain only. Short term capital loss can be set-off against against any capital gain (Whether long-term or short term).(Refer Sec. 70& 71)


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