hi,
whether we can show the capital loss in salary income
please suggest me
2 Replies
CA. Ashok shah
(CHARTERED ACCOUNTANT)
(333 Points)
Replied 29 January 2009
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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