FY 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 .
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Fy 17-18 set off of ltcl (tax free ) with ltcg (taxable)
Replies (5)
No, both of them can't be set off as LTCL has no tax treatment being tax free.
thanks for reply .
but both are in same head and loss can be set off if its in same head .
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.
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.
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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