mahesh kumar agarwal (MD) (25 Points)
09 June 2018FY 17-18
CAN LTCG ( TAXABLE AT 10% SINCE NO STT PAID ON PURCHSES ) BE ADJESTED WITH LTCL ( TAX FREE SINCE STT PAID ON PURCHASES ) ?
STT IS PAID ON SALES IN BOTH .
RAHUL
(Student CA Final )
(377 Points)
Replied 09 June 2018
No, both of them can't be set off as LTCL has no tax treatment being tax free.
mahesh kumar agarwal
(MD)
(25 Points)
Replied 09 June 2018
thanks for reply .
but both are in same head and loss can be set off if its in same head .
RAHUL
(Student CA Final )
(377 Points)
Replied 09 June 2018
If something is not taxable, you can't set it off from your taxable income. Being in the same head doesn't change a thing. It has to be taxable first.
RAHUL
(Student CA Final )
(377 Points)
Replied 09 June 2018
If something is not taxable, you can't set it off from your taxable income. Being in the same head doesn't change a thing. It has to be taxable first.
mahesh kumar agarwal
(MD)
(25 Points)
Replied 09 June 2018
okay , thanks.
its tax free since stt is paid on purchases and this is what making both differ .
what if purchase is from ipo ?
can ipo be treated as stt paid or not ?
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